Bold action is needed to prevent escalation of problem debt for tomorrow’s borrowers
This new report suggests that urgent action is needed to stop the UK sleep walking into a major personal debt crisis. On current trends, personal indebtedness is likely to carry on increasing, with greater levels of unmanageable debt among both low and middle income households. By 2025 there will be many more single and older people trapped in problem debt. The report calls on government to take immediate action, to raise the awareness of the risks of high cost credit and offer better incentives to save.
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