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Debt Trap: The Millions Of Children Living In Families Using Credit To Make Ends Meet

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http://www.independent.co.uk/news/uk/politics/debt-trap-the-millions-of-children-living-in-families-using-credit-to-make-ends-meet-9334949.html

Around 2.4m children are living in families with problem debt totalling almost 5bn according to a major new study that highlights the suffering the recent recession has caused to relationships at home.

A further five million children are in families that are struggling to keep up with repayments and risk falling behind. The shocking statistics that reveal how many families are trapped in a downward spiral of borrowing are found in The Debt Trap, a report from The Children’s Society and StepChange Debt Charity.

The findings show the psychological damage debt inflicts in children who are enduring anxiety and bullying from school friends as they go without daily essentials due to their parents struggling to cope.

Almost half of children in families with problem debt say it causes arguments in the family while 58 per cent say their worry about their family’s financial situation. Nine in ten families in problem debt say they have had to cut back on essentials like food, clothing or heating for their children in order to keep up repayments.

An luckily the govt has helped these children along by expanding the national debt and if they want to be good students giving them an additional debt of £30k-£40k.

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Debt is now part of life......the more you can borrow the better you get on, nobody mentioned anything about paying it back....not in todays money. ;)

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The BBC report on this this morning was unreal. A mother at turmoil because she didn't know what to tell her children when they asked why they couldn't go to Disney World or Peppa Pig Land! Very bad reporting by the BBC.

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http://www.independent.co.uk/news/uk/politics/debt-trap-the-millions-of-children-living-in-families-using-credit-to-make-ends-meet-9334949.html

An luckily the govt has helped these children along by expanding the national debt and if they want to be good students giving them an additional debt of £30k-£40k.

And there will be plenty more if the OBR forecasts are accurate. Ozzy wants a twenty point increase in household debt:income over the next six years, over £100/month increase for 72 months straight.

Economic and social destruction aided and abetted by HM Treasury.

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