Our consumers’ experiences reveal noisy and clear that you are very likely to go into financial obligation if you should be currently on a reduced income, and that financial obligation dilemmas tend to be brought on by the forms of life shocks that will happen to anyone – job loss, ill-health or any such thing else that hits your revenue off track.
‘We saw some specific concerns in the 1st 1 / 2 of this season in the shape of a resurgence in high-cost credit that is short-term our customers, a lot more people behind on gas bills, and a stubbornly high incidence of council taxation arrears.
‘Council taxation is particularly concerning in light of mounting proof that federal government business collection agencies techniques are lagging far behind practice that is best.’
Around 50 % of StepChange’s consumers into the half that is first of 12 months dropped into financial obligation due to task loss, paid off earnings or medical issues. Continue reading