Bullying, anxiety, reduced food and heating at home, and cutting back on clothes – the extent to which as many as 2.4 million children are being damaged as a result of problem debt has been revealed in a new report.
The Debt Trap says that the families of these children are up to £4.8 billion behind on the payment of household bills or loans – the equivalent of £3,437 per family.
A further five million children are in families that are struggling to keep up with repayments and at serious risk of falling into problem debt.
It says that relationships within these families are being put under tremendous stress and children are being “damaged” in a number of ways.
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