SMILING CARCASS'S TWO-PENNETH

Commenting on social, political, economic and general topics

In the red: households with more debt than money

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Well, my debts far outweigh my assets- mainly because of low-paid part time work while raising my two children as a single parent.

We bailed out the banks, how about Labour committing to bailing out those with personal debt?

Second reading

140708 Households with more debt than money

In 2010-12, half of households (50%) in Great Britain had some kind of financial debt – for example formal borrowing (but not mortgages), overdrafts and arrears on household bills.  About half of these households – a quarter (25%) overall – had debts worth more than their financial assets.  Financial assets can include money held in the home or in bank accounts, savings accounts, stocks and shares, etc.

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Written by Smiling Carcass

28/07/2014 at 8:24 PM

Posted in Uncategorized

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