Low income households 'at risk of debt'

Rising debt levels among low income households are a major cause for concern, one charity has emphasised.

The Consumer Credit Counselling Service (CCCS) warned that the average amount of unsecured debt of those earning up to £13,500 a year is £12,870, which may lead to a rise in eviction notices being issued.

Delroy Corinaldi, CCCS external affairs director, commented: "I worry about the high debt burden that many are carrying and the impact it has on their ability to keep their heads above water."

He emphasised that many of these households are likely to be relying on credit to pay for day-to-day expenses, which will make their debt problems even worse.

LSL Property Services recently revealed that rental costs increased by 0.7 per cent last month, meaning the average cost of renting out a room now stands at £701 per month.

London remains the most expensive city to rent in throughout England and Wales.

Published on: July 25, 2011

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