Young people 'face debt risk'
Published On 23 January 2007
People under the age of 35 are more likely to suffer from debt problems due to a build-up of financial pressures, a debt expert has warned.Beccy Boden Wilks, a spokeswoman for the National Debtline said debts from university, high mortgages and rental deposits added to the expense.
"I think that it is harder for young people," she said.
"If we are talking about people under the age of 30 or 35, you have got a lot more expenses. You could have recently graduated from university and you might be looking to get onto the property ladder."
She added: "People of that age have a lot of costs. Your car insurance is more expensive possibly. It is an expensive time of your life."
A recent study from the Consumer Credit Counselling Service (CCCS) showed more women should be going bankrupt if they were to follow best advice, but two out of three who went forward with bankruptcy were men.
