From the TUC

Web links for 27th February 2012

27 Feb 2012, by in Web links

  • A new monthly report from the CCCS debt counselling service finds “households are spending 24% of their discretionary income – £199 per month – on interest payments.” Households “try to rebuild their balance sheets” and will “push the debt to net income ratio down about a quarter by late 2014.” Last year it was difficult for households to make progress “due to the real disposable income squeeze caused by high inflation and low wage growth. This has been compounded by the increased cost of key essentials such as petrol, utilities and housing with many turning to loans to smooth consumption over this tough time for family budgets… [M]ortgage debt is crucial for personal finances and is becoming an increasingly important area of debt advice.”