Payday Loans Data Suggests that Brits Spent 2011 Reducing Their Debts
The average payday loans customer non-related debt was down from GBP8,559 in Dec 2010 to GBP5,596 in Dec 2011.

HERTFORDSHIRE, ENGLAND, January 19, 2012 /24-7PressRelease/ -- The latest figures from www.speed-e-loans.com highlight that the average customer in December 2011 had 30% less debt than an average customer in December 2010 - suggesting that last year, Brits managed their finances responsibly by cutting their debt.

The average payday loans customer non-related debt was down from GBP8,559 in Dec 2010 to GBP5,596 in Dec 2011.

But while they may have cut their overall debt, they may also have cut loose and treated themselves at Christmas. The payday loans lender completed nearly three times as many loans in December 2011 compared with December 2010.

Mr. Miller-Cheevers, CEO from speedeloans says: "This may suggest that after a long, hard year of scrimping and saving, people were sticking their fingers up at the Recession and decided they were going to celebrate Christmas properly."

The figures also revealed that, compared with December 2010, the average payday loans customer in December 2011 was:

- earning 3% more (the average Dec 2011 monthly pay being GBP1,745 compared with GBP1,701 for the same period 2010);
- had a better public credit score (increasing from 481 in Dec 2010 to 497 in Dec 2011).*

Mr. Miller-Cheevers continues: "This data seems to indicate that despite the Recession, people are overall earning more and having less debt - all positive signs. "

*A higher Public Credit Score indicates that the customer is a better risk.

Press Release Contact Information:

Gary Miller-Cheevers
SpeedeLoans Ltd
CEO
507 Centennial Park
Elstree, Herts
UK WD6 3FG
Voice: 0844 879 3199
Website: Visit Our Website