Charity warns of unaffordable lending in overdraft market creating a vicious cycle of debt
More than 2 million people in the UK are stuck with permanent overdrafts,with many trapped in a “vicious cycle” of borrowing, according to a debt charity.
StepChange said it had also uncovered evidence of unaffordable lending in the overdraft market, and cases where banks had failed to offer customers a means to deal with their debt,even when they had made it clear they were in financial difficulty.
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Source: guardian.co.uk