Quarter of UK's poorest households are getting deeper in debt, IFS warns
by Richard Partington from on (#3DCMT)
Poorest households are spending 25% of monthly income servicing debts as UK borrowing rockets
One 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.
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