Generation Debt – Audiobook

Credits

About this report

Foreword by Chris Davis

Executive Summary

Introduction

Chapter One: A Fact of Life: Personal Debt and the UK Economy

1.1 Stephen’s Story

1.2 Debt is Everyday

1.3 The Spending Power Squeeze

1.4 The Role of Debt in the UK Economy

1.5 Summary: Nation in the Red

Chapter Two: Problem Debt and the Debt Support Ecosystem

2.1 What is problem debt?

2.2 Why do people get in to debt?

2.3 Problem Debt and Wellbeing

2.4 What happens when a person gets in to debt problems?

2.5 The Role of the Creditor

2.6 Creditors Have Incomplete Information

2.7 The Debt Support Ecosystem

2.8 The Role of the Debt Solution Provider

2.9 The Demand for Debt Support

2.10 Summary: The Debt Support Ecosystem is a Vital Resource

Chapter Three: A Shock to the System

3.1 From Pandemic to Cost of Living Crisis

3.2 Low Income Households and the Cost of Living

3.3 The Credit Safety Net

3.4 Negative Budgets

3.5 The Middle-Income Squeeze

3.6 The Middle Income Trap

3.7 Summary: An Age of Insecurity

Chapter Four: Personal Debt and the Polycrisis

4.1 Welcome to the Polycrisis

4.2 Climate Change and Debt

4.3 Sustained Price Inflation

4.4 Transition Risk

4.5 Instability in the Financial System

4.6 Summary: Navigating an Uncertain Future

Chapter Five: Looking Forward

5.1 Current Policy Outlook

5.2 The Consumer Duty

5.3 The Role of Debt Advice and Solution Providers under the Consumer Duty

5.4 New Technology

5.5 A More Resilient Sector

Appendix One: No Shame in Saying

Appendix Two: Statistical Summary