Some experts suggest defaults could rise later this year as people struggle to service personal loans and credit cards.
More and more, what we are seeing is that people experiencing problem debt have problems meeting not just their credit repayments, but also their priority billsThe figures were released as households are being surrounded by rising bills, including for energy, food, rent, mortgages, council tax, transport, as well as a hike in national insurance to help pay for health and social care.
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