Millions take out loans just to cover household costs says report

From The Money Advice Service:

Millions of cash-strapped Britons are taking out loans just to put food on the table and cover energy bills, claims a new report.

Despite the economy showing positive signs of recovery, the report adds that consumers are not optimistic about their situation improving any time soon.

According to the Circle Housing Group, around 10 million adults – or one in five – took out a loan in the past 12 months with more than half of these borrowers expecting to do the same in the next year.

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