20 November, 2013
In response to today’s Centre for Social Justice’s report Maxed Out: Serious Personal Debt in Britain, Frances Walker head of press and public affairs said:
“Debt does not discriminate: sudden changes in circumstances such as unemployment, illness or relationship breakdown can push anyone into financial difficulty.
“The nature of problem debt in the UK is evolving, as the squeeze on household budgets continues, people are increasingly finding the basic cost of living difficult to meet. StepChange Debt Charity has seen alarming increases in the numbers of people struggling with essential household bills.
“As real wages continue to decline and households battle to make ends meet, high-cost credit such as payday loans often fills the gap, which, in turn, risks pitching vulnerable households into serious financial difficulty”.