CCR Magazine

You are here  :Home arrow News arrow One in six people in the UK burdened with financial difficulties
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


One in six people in the UK burdened with financial difficulties PDF Print E-mail
Tuesday, 19 September 2017
Today, the Money Advice Service announces new 2017 over-indebtedness figures for the UK.

8.3 million adults in the UK are living with problem debt
The lowest proportion of over-indebted residents live in the South East 13.3 per cent and East of England 14.3 per cent Newham, London revealed as UKs most over-indebted local authority area, 22.7 per cent
This year’s report by the Money Advice Service and CACI reveals that 8.3 million (15.9%) people in the UK are living with a debt problem – the figures show a moderate increase from figures released in 2016 (15.4%).

People living in Newham in East London are estimated to have higher levels of over-indebtedness compared to anywhere else in the UK. The report reveals a picture of over-indebted individuals who are defined as those who are likely to find meeting monthly bills a “heavy burden” and/or those missing more than three bill payments within a six-month period.

Tower Hamlets, London (22.7%) and Sandwell, West Midlands (22.1%) are next in line to Newham, while those in East Dorset (9.7%), Mole Valley, Surrey (9.9%) and Chiltern, Buckinghamshire (9.9%) are reported to have the lowest proportion of over-indebted residents in the UK. (Tables 1 & 4). The top two over-indebted regions in the UK are the North East (17.7%) and Wales (17.7%), followed closely by London (17.2%) and the North West (16.9%). (Table 2).

Sheila Wheeler, Director of Debt at the Money Advice Service said: “This research tells us that one in six people in the UK have financial worries, a figure that stands at over 8.3 million. Debt is a complex challenge and one that needs a collaborative approach if we are to successfully address it.

“We gather this insight to understand where the greatest areas of need are to help us ensure we commission debt advice as effectively as possible. To support this, a new strategic approach to debt advice commissioning is underway, in addition to a major review of debt advice funding independently led by Peter Wyman. Over time, and with the support of our partners*, we hope to help more of the 8.3 million people who are struggling.”

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197