Debts rising amongst the poorest

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Debts rising amongst the poorest

January is always a tough month but for the poorest in our Country, this month pushes more into a spiral of debt.

For some, it is 5 weeks before payday and this could push those looking to eat into short term loans.

In fact, British workers put an average of £252.30 of their Christmas spending onto credit cards or loans. It will typically take them more than four and a half months to clear that festive debt, which will mean a particularly expensive start to the year for those borrowers forced to rely on expensive payday loans and high interest credit cards.

 




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