The Guardian: Covid-19 has exacerbated soaring problem debt levels in the UK

Dr Mia Gray, Senior Research Fellow at Cambridge Centre for Alternative Finance, discusses how Covid-19 has worsened the problem of debt levels in the UK. “Many of the issues around problem debt reflect that the people in our society with insecure incomes are experiencing a perfect storm of disadvantage,” she says. “A decade of austerity – weakened public services, a frayed safety net, the contraction of legal aid – means many entered the pandemic with soaring levels of personal debt. The pandemic has only served to exacerbate this.”

Read the full article [theguardian.com]