Around 1.6 million families in the UK are living with “extreme problem debt”, according to a report released by the TUC and Unison.
They say that’s due to a drop in wages with millions paying out more than 40% of their income on repayments.
Between 2012-2015 total unsecured debt rose by £48bn to £353bn, not including mortgages.
Joseph Surtees from the debt advice charity Step Change says “more people are struggling with lower level loans”.
He said: “They’re really struggling with pay day loans or even owing money to their landlords or utility companies.”
The report, Britain In The Red, says around 3.2 million households are in “problem debt” in total and pay more than quarter of their income on debt repayments.
Of the 1.6 million…
Read the full article at: http://www.bbc.co.uk/newsbeat/article/37164267/more-than-15-million-families-are-in-extreme-debt-according-to-a-tucunison-report
