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In economic terms, debts have their most direct negative impact on household living standards when they use up disposable income
- Debt servicing reduces income available to spend on essential items
- Other e.g. psychological effects of debt possible
Household is judged to be under "immediate servicing pressure" if either:
- Spending 25% or more of monthly net income on servicing debts
OR
- Two or more payments behind on one or more credit agreement, or bill – “in arrears”
Authors
Senior Research Economist
David’s research covers household wealth, intergenerational transfers, social mobility, pensions taxation, and health and work at older ages.
Presentation details
- Publisher
- IFS
Suggested citation
Sturrock, D. (2018). 'When might debt pose problems?' [Presentation]. London: IFS. Available at: https://ifs.org.uk/publications/when-might-debt-pose-problems (accessed: 4 May 2024).
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