Our consumers’ experiences reveal noisy and clear that you are very likely to go into financial obligation if you should be currently on a lower life expectancy income, and therefore financial obligation problems tend to be due to the types of life shocks that will happen to anyone – job loss, anything or ill-health else that hits your earnings off track.
‘We saw some particular concerns in the 1st 1 / 2 of in 2010 in the type of a resurgence in high-cost credit that is short-term our consumers, more individuals behind on gas bills, and a stubbornly high incidence of council income tax arrears.
‘Council income tax is particularly concerning in light of mounting proof that federal federal government business collection agencies methods are lagging far behind practice that is best.’
Around 1 / 2 of StepChange’s customers into the half that is first of 12 months dropped into financial obligation as a result of work loss, paid off earnings or medical issues. Continue reading