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Britain's biggest debtors have East London’ postcodes

PUBLISHED: 00:02 19 November 2008 | UPDATED: 13:48 05 October 2010

THE postal region with Britain’s biggest financial debts is East London, a survey has found. The E1 to E17 postcodes have been identified collectively as the most debt-heavy in the country. They were most heavily in the red, contrasting with the neighbouring EC1 to EC4 City financial district as the country’s least in debt

Victoria Huntley

THE postal region with Britain’s biggest financial debts is East London, a survey has found.

The E1 to E17 postcodes have been identified collectively as the most debt-heavy in the country, according to a report by Callcredit reference agency.

The agency assessed debt status’ across the country, evaluating census data, age, property class and income as well as debt data.

Those with East London’ postcodes were most heavily in the red, contrasting with the neighbouring EC1 to EC4 City financial district topping the poll as the country’s least-indebted area.

The East London region stretches from deprived districts like E1 Whitechapel to affluent leafy suburbs such as E4 Chingford.

The postcode dilemma also includes Britain’s wealthiest postcode, E14 Canary Wharf—yet still it is the most debt-ridden postcode region in the country.

The online credit report agency’s boss, Paul Roberts, said: “Many are unable to raise additional capital through remortgaging due to falling house prices, while daily expenses continuing to rise.

“Some will be struggling to pay back loans and credit cards taken out over 12 months ago.”

By contrast to East London’s deprivation, towns like Bournemouth, Salisbury and Bath came out best among Brits least in debt.

The debt charity is offering free confidential advice by freephone on 0800-1381111, or online at:

www.cccs.co.uk


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