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What are they going to do to people in debt??

1 reply

WYDMAD · 08/11/2022 11:09

So many people must not be able to pay their council tax, rent, bills etc at the moment. I don't understand how they're keeping up with it all? Will they take all these thousands of people to court? Will we just end up with thousands of people with CCJs and bad credit? I don't understand how things got into this state. I'm really fearful. My savings are dwindling massively becIsr my outgoings are so high (lone parent, £1750 on rent for a tiny flat and childcare alone). I go to bed every night feeling scared and thinking about money, and I'm not on an awful wage. Will this ever get better? I'm starting to panic a bit and am really tearful all the time. I've had to cancel my son's hobbies which he loved. It's all just so awful

OP posts:
AloysiusBear · 08/11/2022 11:21

There will be a short period where people are struggling badly. Wages will be forced up. Households with a sahp are unlikely to be able to continue with one, unless they are very high earners. Part time workers will face huge pressure to work more hours.

The one advantage of inflation is it does mean your debt becomes proportionately smaller as wages rise.

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