Bank of England figures reveal households repaid just over £1.5bn of credit card debt, personal loans and car finance in November, with weaker consumer spending amid the second national lockdown believed to be a contributing factor. With net consumer lending dropping by £1.54bn, it marks a 6.7% decline on the amount recorded
November 2019, with this the biggest drop since monthly records began in 1994.
Since the start of the coronavirus pandemic in March, households have repaid £17.3bn of consumer credit. Bank of England analysis also shows that total household deposits increased by almost £5bn month-on-month to reach £17.6bn.
Obviously people's finances vary enormously, but overall people appear to be paying things off.