Use of credit and arrears on debt among low income families in the United Kingdom
نویسنده
چکیده
Household accumulation of debt and arrears on debt, especially among low income families, is an extremely topical issue in the UK media and in policy circles. The paper utilises data from the UK’s Survey of Low Income Families in order to examine use of credit, and default and arrears, among low income families with children. It shows how credit use and accumulation of arrears differs between single parents and couples with children, and also between homeowners and renters. It also briefly examines the persistence of arrears on specific forms of credit using the panel element of the data set, now named the Families and Children Survey. JEL classification D12 D14
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