According to the City regulator, more than seven million people across the UK were estimated to be struggling with bills and credit repayments in January. The research indicates that renters, single adults with children, adults from a minority ethnic background, and people living in the north east of England were particularly likely to be in financial difficulty. Unemployed adults and others not in work such as the long-term sick and full-time carers were also more likely to be struggling financially compared with the UK average.
More than seven million people across the UK were estimated to be struggling with bills and credit repayments in January, according to the City regulator. Renters , single adults with children, adults from a minority ethnic background and people living in the north east of England were particularly likely to be in financial difficulty , the research indicates.
Unemployed adults and others not in work such as the long-term sick and full-time carers were also more likely to be struggling financially compared with the UK average. Across the research, one in seven (14% or an estimated 7.4 million people across the UK) adults felt heavily burdened keeping up with domestic bills and credit commitments at the start of 2024 – an improvement from the one in five (21% or an estimated 10.9 million people) who felt this way in January 2023. This is still higher than the 5.8 million people (11%) who were struggling in February 2020, before the cost-of-living squeeze started. Following similar trends seen previously, utility bills were the most commonly missed bills over the six months to January 2024, followed by credit card bills and council tax
UK Bills Credit Repayments Struggling Financial Difficulty Renters Single Adults Minority Ethnic Background North East England Unemployed Adults Cost-Of-Living Squeeze Utility Bills Credit Card Bills Council Tax
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Over Seven Million People in the UK Struggling with Bills and Credit RepaymentsAccording to the City regulator, more than seven million people across the UK were estimated to be struggling with bills and credit repayments in January. The research indicates that renters, single adults with children, adults from a minority ethnic background, and people living in the north east of England were particularly likely to be in financial difficulty. Unemployed adults and others not in work such as the long-term sick and full-time carers were also more likely to be struggling financially compared with the UK average.
Read more »
Baltimore bridge collapses sending 'at least seven people' into river with major rescue operation underwayA rescue operation is underway for at least seven people after a key bridge collapsed in Baltimore after it was hit by a container ship.
Read more »
'Dire emergency' as Baltimore bridge collapses sending 'at least seven people' into river with rescue...A rescue operation is underway for at least seven people after the 'Key Bridge' collapsed in Baltimore after it was hit by a container ship.
Read more »
Baltimore bridge collapse: US authorities trying to rescue at least seven peopleUS authorities are trying to rescue at least seven people after a road bridge in Baltimore, Maryland, collapsed after being hit by a large boat.
Read more »
Martin Lewis urges two million people to claim £1,256 HMRC payoutThe financial guru says there's one cash payout which millions of people are missing out on and the deadline is fast approaching due to the new tax year
Read more »