Desperate Brits relying on debt

Sarah Davidson

April 17, 2015

The 18 to 34 year old demographic are particularly vulnerable, with three fifths (58%) expecting to use credit to cover their costs.

Kevin Mountford, head of banking at MoneySuperMarket said: “While inflation is at an all-time low, and UK debt is expected to fall next year, there is still a long way to go before many consumers are out of trouble.

“Simply working out a realistic monthly budget and cutting out unnecessary expenditure should be the first step.”

Typical debt sufferers are burdened with credit card debt, personal loans, overdrafts and/or store card debts.

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