The impact of the rising cost of living on individuals seeking help from National Debtline in the UK is concerning. A recent report highlights the challenges faced by callers, including falling behind on bills, increasing debt levels, and reliance on credit. The document reveals the worsening trends in affordability and financial difficulties.
“Debt storm brewing” as more struggle with household bills
Key Summary Points
Rising cost of living has strained household budgets, leading to many UK households going without essentials.
National Debtline clients, particularly those with low incomes, face serious difficulties due to increasing council tax, energy, and food bills.
Clients have existing debts that have grown, and they are cutting back on essentials to make ends meet.
Rent hikes as interest rates rise pose a risk to callers living in rented accommodation.
Common priority debts include council tax, energy, and benefit overpayments.
Average priority debt level among clients has i...
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