Low-income households have piled up expensive debt and are vulnerable to shocks, report finds

by The Independent

The Independent— Less well-off sharply increase borrowing on credit cards, overdrafts and loans while wealthier households enjoy benefits of record-low mortgage rates

Mail Online—Share of low-income households with children struggling with housing costs has risen to over half. The Resolution Foundation says that consumer debt among poorer households has risen the fastest among any income group, with the proportion rising by nine percentage points.

Mail Online—Households have been warned to settle Christmas debts. High street lenders are poised to impose punishing levies on those who slip into the red as part of a radical overhaul by the City watchdog which is designed to make overdraft fees fairer.

Mail Online—Binge drinkers are drinking MORE than ever, report finds. A new report from the Centers for Disease Control and Prevention found that the number of alcoholic beverages consumed by binge drinkers rose from 472 in 2011 to 529 in 2017.