New Debt Crisis

[Ms Macbeth]

Whats the debt figure when you strip out mortgages from it...?

 

That would be interesting.

[Obelix]

That would be interesting.

 

Average mortgage debt is at the moment (MArch 2018) £123k.

 

Assuming you split that in half amongst couples it's still more than the average debt. Of course many people rent.

 

The actual personal debt figure is closer to £8k per person but I'm certain that doesnt make sure a good figure for Anna to debate...

[realcockney]

I assume it's an average of the debt owed shared out by households.

 

You'd have to watch the programme.

 

including mortgage debt its peanuts

[Anna B]

The programme was about 'the only just managing' only being able to manage by going into debt. That debt was to pay for everyday basics, like food, utilities etc, and that figure is growing.

 

Since when was an ordinary working household unable to pay all its basic daily living costs? What's gone wrong? If they can't afford it now, what's it going to be like in winter with the cost of food going up and heating costs etc on top?

[The Joker]

Every year i'm in arrears with my council tax - i haven't paid it on time since they changed it from the poll tax.

 

I didn’t know The Derbyshire councils were so lenient with late payments.

 

Sheff city t’council send you one reminder of late payment, and if you’re still tardy, they demand the balance of outstanding payments at once.

 

Sometimes, I leave it until the last payment is outstanding, and wait for the demand to arrive before paying up

[El Cid]

The 'just about managing' are no longer are managing at all, they are sinking fast, and this group is engulfing more and more people. Food bank use growing, and many of these are the working poor.

 

Employment might be up according to the government, but for many, working does not end poverty, it exacerbates it.

 

UK workers' total earnings, including bonuses, increased by 2.4% in the three months to June, slowing further from a 2.5% rise in the previous period and missing market expectations of a 2.5% gain.

 

Whilst inflation is at 2.5%, previously at 2.4%

 

Not much of a change/difference.

[willman]

The programme was about 'the only just managing' only being able to manage by going into debt. That debt was to pay for everyday basics, like food, utilities etc, and that figure is growing.

 

Since when was an ordinary working household unable to pay all its basic daily living costs? What's gone wrong? If they can't afford it now, what's it going to be like in winter with the cost of food going up and heating costs etc on top?

 

The '70's was no different during my childhood and the '80's into the '90's for me as an adult were exactly the same. At least i could blame 15% interest and unemployment as mitigating factors.

[cgksheff]

The programme was about 'the only just managing' only being able to manage by going into debt. That debt was to pay for everyday basics, like food, utilities etc, and that figure is growing.

 

Since when was an ordinary working household unable to pay all its basic daily living costs? What's gone wrong? If they can't afford it now, what's it going to be like in winter with the cost of food going up and heating costs etc on top?

 

I trust that some are on their uppers, but the show doesn't do itself any favours when the hard-up being interviewed chooses to spend on hair colouring.

[Anna B]

The '70's was no different during my childhood and the '80's into the '90's for me as an adult were exactly the same. At least i could blame 15% interest and unemployment as mitigating factors.

Me too. I spent a fair amount of time robbing Peter to pay Paul when interest rates hit 15%. It was desperate at times, but never so desperate that I had to resort to a moneylender. I could always cut back somewhere, shave a bit off the food bill etc.

 

You go to a moneylender and get into debt when you've exploited all these.

[hackey lad]

The programme was about 'the only just managing' only being able to manage by going into debt. That debt was to pay for everyday basics, like food, utilities etc, and that figure is growing.

 

Since when was an ordinary working household unable to pay all its basic daily living costs? What's gone wrong? If they can't afford it now, what's it going to be like in winter with the cost of food going up and heating costs etc on top?

 

Everday basics would not add up to the £58,000 debt that you quoted