Utility debt 'creates financially excluded people'

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Utility debt 'creates financially excluded people'

Fri 5th Mar 2010

Teresa Perchard, director of policy at Citizens Advice, announced that people who could not pay their utilities bill were entering into unsustainable amounts of debt and widening the margins of social poverty.

Ms Perchard predicted that a debt-free Britain is an unfeasible prospect for the near future while many areas of society remain under the poverty line.

Speaking at the Northern Money Conference 2010, she said: "We go into the next five years carrying a huge amount of debt - not just the national debt, but individuals' lending is still very great."

The Bank of England recently found that total net lending to individuals reached £2 billion in January while Credit Action calculated that the average amount of money owed by every UK adult was £30,306, which equates to 129 per cent of the median wage.

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