Young people have “stifling” levels of debt

Citizens Advice warns youngsters are struggling

Young people are in more debt than ever before, with Citizens Advice seeing a staggering 21% rise in people aged 17-24 asking for advice about debt.

The average unsecured debt in this age group was £12,215 in 2012 – three times more than before the financial crisis.

Credit card debt was falling, the organisation said, but formal loans were increasing, suggesting young people were getting into more serious financial situations.

“A new generation of young people are starting out with stifling levels of debt,” said Gillian Guy, chief executive of Citizens Advice.

“Many young people already face challenges getting on the career and housing ladders - doing this while saddled with huge unsecured debts make it an uphill struggle.

“As well as looking for a longer term solutions, it is important people can get independent advice, guidance and support about how they can manage their finances.”


BMW badge

BMW embroiled in diesel scandal after SUV breaches EU emissions limit by 11 times

Tube trains at North Acton

New TfL boss: Here’s who’s taking over from Sir Peter Hendy

Readers' comments (2)

  • Anonymous

    Expect another economic crash

    Unsuitable or offensive? Report this comment

  • Am Queen Harton by name, I live in Texas, United State Of America, who have been a scam victim to so many fake lenders online between March last year till June this year but i thank my creator so much that he has finally smiled on me by directing me to this new lender who put a smile on my face by not deceiving or lying to me but however this lender whose name is Mr Michael David gave me a business loan which amount is $ 70,000usd,after my agreement to their company terms and conditions and one significant thing i love about this loan company is its fast service and also its God fearing attitude for not been like other fake lenders online who scammed me before now by asking me to bring fees upon fees without getting the results of all those fees payment that i made to them but all the same I still give glory to God that my storm is over now and am now that busy woman that i used to be and also my business is now growing here in my country because i now have much capital to do my business properly before the year runs out without having to go and meet my bank for any assistant .Thank you Mr Michael David for this dream come through and i promise to try all my best to refer your loan company to others who are in need currently just as the way i once was .. thanks so much over and over a again and may God guide you all . here is their email to contact them if you need loan too [email protected]

    Unsuitable or offensive? Report this comment

Social Bookmarks