Nearly half of #UKs social #housing #families have no money left after bills - #debt @ RealLifeReform cc @EAPNEurope Families in #SocialHousing hit by 10 Downing Streets major #benefits changes are #struggling with rising debts with almost half who owe money unsure when they’ll be able to pay it back or whether they ever will, a study has found. The fifth report from Real Life Reform – a major study by #SocialLandlords into the lives of up to 100 northern households affected by #WelfareReforms - revealed that an increasing number of #households are also worried about getting further into debt, while many are reducing repayments in an attempt to make ends meet each week. Interviews conducted in August with more than 70 tenants – the majority of whom have been tracked since the study began last July – showed that: * Average household debt is now £3,931 – a 71.8% increase since the research started in July 2013 * 48% of in-debt households don’t know when or if they will ever be able to repay what they owe * Weekly debt repayments have reduced to an average of £24.66 but repayment periods have extended * 71% of households are now worried about getting into more debt – a 14% increase since the last report in July 2014 Lisa Pickard, of Leeds and Yorkshire Housing Association (LYHA) said: “This latest report highlights some very worrying trends, especially around increasing debt. “Many households, including those in #LowPaid employment, are struggling to make ends meet and are borrowing to be able to cope on a week-to-week basis. With average debts reaching almost £4,000, and many unsure when or if debts will be repaid, there are real concerns about people’s ability to afford to live in the future.” UN Special Rapporteur on the Right to Adequate Housing
Posted on: Sun, 02 Nov 2014 11:58:47 +0000