An article in the Guardian says that: “Britain is sleepwalking into a debt crisis after a steep rise in emergency borrowing by low- and middle-income households to cope with the Covid-19 jobs crisis.

Research by the debt charity Stepchange found that household borrowing and arrears linked to the coronavirus pandemic have soared 66% since May to £10.3bn. The number of people who are in severe debt has risen to 1.2 million – nearly doubling since March – with a further 3 million people at risk of falling into arrears after taking on extra short-term loans.” READ THE FULL ARTICLE