UK families 'still £7,900 in debt'

UK families are typically £7,900 in debt from personal loans, overdrafts and credit cards, despite three years of paying them down, a report has found.

Meanwhile credit card use could fall into permanent decline, with the rise of digital technology and payday lenders changing how people access credit, the Precious Plastic report from PricewaterhouseCoopers (PwC) said.