Poverty charity the Joseph Rowntree Foundation warns of ‘debt timebomb’ as interest rate rises hit low-income households
Millions of families are borrowing to cover basic bills and expenses, according to analysis that warns Britain is entering a dangerous new phase of the cost of living crisis.
Interest rates are expected to rise again this week and there are warnings about a “timebomb of debt” among poorer households. Reports suggest companies are targeting struggling single parents, using social media ads, to offer inappropriate debt repayment schemes that will leave them worse off.
