Borrowing is on course to top £50 billion next year, the Institute for Fiscal Studies said.Read the full story ›
Households are currently borrowing more than a billion pounds a month in a spending spree that is fuelling a dangerous debt crisis.Read the full story ›
Nationally, unsecured debt, excluding mortgages, currently stands at a record high of £349 billion.Read the full story ›
A Sutton Trust report has found those who graduated last year under the £9,000 fees regime owe an average of more than £44,000.Read the full story ›
People's reliance on personal loans, credit cards and overdrafts will lead to an increase in debt levels, according to a new report.Read the full story ›
Actor Brian Cox says the impact of childhood debt is impossible to underestimate.Read the full story ›
The Children's Society has warned of the dangers of ignoring the emotional impact family debt has on children.
Chief executive Matthew Reed said:
Families are increasingly relying on debt as a way to make ends meet - but we're in danger of ignoring the impact this is having on children now and in the future.
We cannot allow children to pay the price of debt.
Poor families facing financial difficulties need "somewhere to turn" other than to unethical and predatory lenders, a leading figure in the Church of England has said.
The Archbishop of York, Dr John Sentamu, gave his backing to a report into UK household debt and the distress it causes children:
When the monthly struggle to pay the bills becomes too much, often families think they have no option but to borrow money to provide the basics for their children,.
We need to make sure families living in poverty have somewhere to turn other than to usury-lenders.