Debt charities have reported a jump in the number of young people seeking help with bad debts as growing numbers of under-30s struggle to pay household bills, interest on bank overdrafts and rent arrears. Citizens Advice said that the failure to cope with payday loans and other forms of high cost credit was one of the main reasons for the influx of distressed young people seeking advice. The charity, which helped 350,000 people last year, said there was 34% rise in the number of under-25s seeking help with high cost credit in the last two years. “We are seeing fewer homeowners and an increased number of renters contacting us for advice and support with their problem debt,” it said. “In the last 12 months 43% of people who sought help for high cost credit issues were under 35.

Source: The Guardian September 20, 2017 11:37 UTC