recent research finds 3.2 million families spent at least 25% of their gross monthly pay servicing unsecured debt in 2014The number of households struggling with problem debt grew by a quarter between 2012 and last year,as stagnating wages forced a growing number to borrow to win by, according to the TUC.
By 2014, or 3.2 million families were spending at least 25% of their gross monthly pay on servicing unsecured debts,the definition of problem debt. The figure for 2012 was 2.5 million, according to research commissioned by the TUC and Unison.
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Source: theguardian.com