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&#3916-24 year-olds too relaxed about debt&#39

The Mortgage Lender is warning 16 to 24 year olds have a worryingly relaxed outlook on debt and think nothing of running up debts of £3,130.

Research by the specialist lender of 2,000 people last month shows this figure is over double the amount people older than 55 think is an acceptable amount of debt, saying £1,712 should be considered the limit.

TML says these findings come shortly after the FSA warned the UK has taken on an unsustainable level of borrowing.

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