cost of living debt

Cost of living remains biggest driver of problem debt

2nd June 2023 Consumer Collections | #cost of living debt

Debt charity, StepChange’s latest client data for April 2023 has revealed over a quarter of new clients (27%) cite the cost of living as their main reason for debt, up from 15% a year ago (April 2022). The new StepChange client data shows that after a year of inflated prices for gas and electricity, more…

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Two in five people rationing essentials to keep up with bill repayments 

16th February 2023 Arrears and Recoveries | #cost of living debt

Struggling households borrowed £11 billion to cope with the cost of living crisis in 2022 and are cutting back on essentials to keep up with the repayments, according to new polling from StepChange Debt Charity. The polling, conducted by YouGov, reveals that more than two in five UK adults (43%) are taking action such as…

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Rise in cost of living pressure impacting debt

30th March 2022 Arrears and Recoveries | #cost of living debt

StepChange Debt Charity’s latest client data report for February has shown a rise in the proportion of people seeking advice who say that cost of living pressure is a reason for their debt. The cost of living was the fourth most common reason last month, cited by around one in nine clients. The Bank of…

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