Property News · December 6, 2017

UK banks have 2m customers stuck in permanent overdraft


Charity warns of unaffordable lending in overdraft market creating a ‘vicious cycle’ of debt More than 2 million people in the UK are stuck with permanent overdrafts, with many trapped in a “vicious cycle” of borrowing, according to a debt charity.StepChange said it had also uncovered evidence of unaffordable lending in the overdraft market, and cases where banks had failed to offer customers a means to deal with their debt, even when they had made it clear they were in financial difficulty. Continue reading…

Source : theguardian.com
Read more…UK banks have 2m customers stuck in permanent overdraft

You may also like...