Property News · January 16, 2018

Quarter of UK's poorest households are getting deeper in debt, IFS warns


Poorest households are spending 25% of monthly income servicing debts as UK borrowing rocketsOne in four of Britain’s poorest households are falling behind with debt payments or spending more than a quarter of their monthly income on repayments, according to a study.The latest evidence of mounting debt problems for some of the most vulnerable in society is shown in a report by the Institute for Fiscal Studies, on behalf of the Joseph Rowntree Foundation, at a time when borrowing on credit cards, loans and car finance deals returns to levels unseen since before the 2008 financial crisis. Continue reading…

Source : theguardian.com
Read more…Quarter of UK’s poorest households are getting deeper in debt, IFS warns

You may also like...