End The Debt Trap

Nobody should fall into debt simply to put food on the table or heat their home.

Britain’s growing debt trap

Across the UK debts are spiralling out of control, with more and more people and families getting caught in a debt trap. 

Personal debt has reached it’s highest ever levels, a staggering £217 billion.  

Nearly 9 million people are now ‘severely indebted’, spending more than a quarter of their incomes on debt repayments, and the poorest people are being hardest hit. Just under half of these households have incomes of less than £15,000 per year. 

Low wages, insecure work, welfare cuts and rip-off lending lay behind the debt trap. Growing numbers of people simply can’t make ends meet, and are being forced to borrow from rip-off, irresponsible lenders just to cover basic needs. 

The debt trap is driving mental health problems, homelessness and family breakdown, and sinking  poor families and communities deeper into poverty.

We urgently need the government to take action to end spiralling debts and the growing debt trap. That’s why we’re calling on the government to: 

  1. End rip-off lending by capping interest and charges, for loans, credit cards, overdrafts and doorstep lending,  
  2. Start a government inquiry into why so little action has been take and put pressure on the Financial Conduct Authority to act. 

Campaign Resources

Open letter to the Chancellor of the Exchequer (April 2020)
Action Kit: The essential debt week action kit (November 2019)
Briefing - Case for a cap on credit card costs (July 2019)
Public letter to the Economic Secretary (July 2019)
Household debt: the poverty trap (Drop It! Magazine, July 2018)
Briefing Summary – End the debt trap (June 2018)
Full Briefing – End the debt trap (June 2018)
Briefing - The case for a household debt jubilee (March 2018)