Since the FCA stepped in to regulate payday loans, an increasing number of people have been turning to rent to own shops and getting into problem debt as a result. Our new research looks into what is causing those problems. What is rent to own? Rent to own companies sell household electronic items through expensive…
Unmanageable debt has an impact on beyond financial strain. It is closely related to poor mental health and can affect people’s attitudes, outlook, and behaviour.
Our analysis shows that almost one in ten households falls behind with an essential household bill over a twelve month period. People who claim benefits have low incomes, so it’s not surprising that 70% of those who are behind with a bill payment claim means-tested benefits. Since 2010 the welfare system has undergone significant reform….
An increasing reliance on digital technology in our daily lives is taking us into uncharted territory – both in how our services are provided and who has access to information about us. As we click our way through our lives – shopping, banking, socialising – we leave a trail of information about our preferences and…
Exploring how self-employed people manage their finances and move in and out of debt
Tighter firm regulation is driving up lending standards, causing firms to adapt or leave, resulting in fewer issues for payday loan customers.
This year marks a turning point in the story of debt in the UK. Since the financial crisis public policy debate has been dominated by discussion about government debt and the budget deficit. At the same time household debt, as a proportion of income, has been falling. New research from Citizens Advice shows that trend…
Citizens Advice has seen a shift in the kind of debt people have now compared to five years ago.
Guarantor loans are causing growing numbers of problems. Regulators need to step in to stop them becoming the next payday loans.
- Author: Hugh Stickland, Chief Economist
Our analysis covering four years of change on the issues that people need help, support and advice with through Citizens Advice.