'18% of households with children' struggling with debt

One in five (18%) of UK households with children are faced with "problem" debt, according to a survey from two leading charities.

The Children's Society and StepChange debt charity also found:

  • On average these households owe £3,437, or an estimated £4.8 billion to creditors and the Government.
  • An estimated 2.4m children are living under "problem" debt.
  • A further 2.9 million households with dependent children are struggling to keep up with payments on household bills or credit over the past year.
  • Almost 18% of 10 to 17-year-olds who took part in the survey had been bullied because of the financial troubles their family faced.
  • Over half of the children researchers spoke to said they were embarrassed by their lack of money.

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Charities warn problem debt 'leaves children in distress'

Over a million families are struggling with "problem" debt, causing emotional distress to their children, charities warned. The Children's Society and StepChange debt charity said another three million families were sliding into financial trouble.