Scots 'Confident' On Repaying Debts

Scots are increasingly confident about their ability to repay debts, a new survey suggests.

A poll by PwC found fewer people are concerned about making future repayments than two years ago and around 40% pay off their credit cards in full each month.

Using credit to pay for essentials such as food and household bills is also on the decline, with 8% of people surveyed having done so in the last six months, compared to 14% in 2013.

According to PwC, fewer people in Scotland are concerned about losing their jobs in the next 12 months and around 50% intend to save more this year.

Steve Davies, UK retail and commercial banking leader at PwC, said:Despite our survey revealing a relatively high degree of confidence among consumers about their ability to stay on top of their debts, affordability of the UK's household debt pile may come under pressure in the coming years.

While most people in Scotland and across Britain are currently in control of their borrowing, and seem confident in their ability to remain so, there are a few pockets that need to take much more care - namely the squeezed 35-44 year old generation. 20% are now borrowing simply to pay for essential items and make ends meet every month.''

YouGov carried out the online survey of 2126 adults, including 211 in Scotland, at the end of January.