Industry News | Page 6 of 42 | Debt Advice Foundation

Millions are paying more than 40% of their income on debt repayments

report which states that many families in the UK are living with "extreme problem debt”.   The report blames a drop in wages for plunging around 1.6 million families into extreme indebtedness as the value of real UK wages went down by 10.4% between 2007 and 2015.

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Questions raised on credit card affordability checks

Over a quarter of credit cards opened were in serious arrears just a year later   According to an investigation by the Financial Conduct Authority, a quarter of credit cards  aimed at borrowers with poor credit scores opened in 2013 were in severe or serious arrears by 2014. 

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