Unsecured household debts set to rise by 9.4% this year, TUC says

Largest annual rise since records began in 1987 sees forecast of average £1,660 extra debt amid cost of living crisis

UK households are expected to rack up extra unsecured debts of more than £1,600 this year, including on loans and credit cards, as the cost of living crisis continues to bite, according to a TUC analysis.

The TUC said its analysis showed that unsecured household debt – including loans and credit cards but excluding mortgages and, for this exercise, student loans – was on course to increase by 9.4%, or £1,660, in real terms on average per household this year.

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