Over a million people are forced deeper into debt just to cover their everyday household bills.
Some of the most vulnerable, already struggling to make ends meet, are being charged extortionate interest rates over 100% – many over 1000%.
A shocking report from StepChange Debt Charity reveals that half needed to borrow cash to pay for their food or grocery shop, a third for fuel and water bills and a quarter to cover their housing costs.
People on low incomes are shunned by the high street banks and have no where else to turn other than last resort options such as doorstep lenders, payday loan firms, logbook loans and pawnbrokers.
There are community lenders such as credit unions, who offer aff…
Read the full article at: http://www.mirror.co.uk/money/million-people-forced-deeper-debt-10835603