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Youth 'take on unwanted debts'

Youth 'take on unwanted debts'

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A new study has said that many youngsters are taking on debts that they did not really need initially.

Of those polled by Citizens Advice and YouthNet, 68 per cent between 16 and 24 claimed that they have been urged by service providers to agree to loans.

Moreover, 83 per cent said that they have been offered a store card while browsing on the high street, while 77 per cent had gained loans and credit offers in the mail.

And as a result, 47 per cent noted that they have got into debt because of these credit issues, with many feeling worried as well.

In order to stop the trend, 65 per cent argued that it should be harder for them to get their hands on any form of credit.

For people already in financial woe, two-thirds of respondents thought that there should be more support on hand.

Household bills could increase by about 40 per cent this year as service providers look to cover the cost of wholesale charges, bosses at energy companies warned this week.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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