The Money Advice Service (MAS) and CACI have released figures on the rate of over Over-Indebtedness in the UK.
MAS reports that 15.9% of the population are over-indebted, which accounts for more than 8.26m people in the United Kingdom. This in an increase from the figures released in 2016, which showed 15.4% of people living with problem debt. The levels of over-indebtedness in different parts of the UK range from Dorset, where 9.7% of adults are over-indebted, to Newham (London) and Tower Hamlets (London) where the same figure is 22.7%.
The East Midlands Region has over 600,000 over-indebted adults, which equates to 16.2% of the adult population. Nottingham was the Local Authority area with the highest proportion of over-indebted people in the region (21.9%), followed by Leicester (21.0%) and Lincoln (20.0%). The areas with the lowest proportion of the population who are over-indebted were Rushcliffe (11.9%), the Derbyshire Dales (12.0%) and Harborough (12.2%).
The is taken from online survey data with over 20,00 respondents, conducted by YouGov and Research Now in July 2017. Over-indebted individuals are defined in the report as those who are likely to find it a heavy burden to meet monthly bills and/or those who have missed more than 2 bill payments within a 6 month period.
You can access the report on the MAS website here.
The East Midlands Money Advice Partnership is a network of organisations funded by the Money Advice Service to provide free money advice to people in the East Midlands. To find an EMMA partner working in your area, have a look at our handy online map here.This entry was posted in Latest News. Bookmark the permalink. ← High Cost Credit Problems in Chesterfield Evaluating the outcomes from debt advice →