Nine million 'in severe debt'
Nearly nine million people are estimated to be trapped in a spiral of severe debt in the UK, the Government-backed body the Money Advice Service (MAS) has found. Just one in six getting help to break free.
Two thirds of those in debt are women
- Around one fifth (21%) of those the research classed as over-indebted, equating to 1.8 million people across the UK
- A further 11% were not concerned about being in debt
- One in eight (12%) over-indebted people said they were thinking about trying to get help soon
- Three-quarters (75%) of the estimated 8.8 million people with severe debt problems are under 45 years old and nearly two-thirds (64%) are women
- Some 74% of those with severe debt problems said they are unhappy
- Around four million people are thought to have been struggling to pay their bills for more than a year
- Just under half (48%) of those with severe debt had to forego basic necessities
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