Lack of resilience against life events driving problem debt - StepChange

A StepChange report into the financial resilience gap has helped expose the triggers which send people spiralling into problem debt. The Life Happens (July 2019) report suggests that major events, such as losing a job or having hours cut, splitting up with partner, falling ill or becoming a carer, are common reasons why people fall into severe financial difficulty. The findings, which follow research conducted in 2015 which showed similar results, revealed that seven in 10 people who came to StepChange for advice in 2018 said the primary reason they had got into problem debt was becau...