BBC website: Debt 'way of life' for under-25s
Who cares. As long as they keep spending, the economy will keep sailing Gordon Brown's steady course.
In 2002, less than 6% of the Consumer Credit Counselling Service's (CCCS) clients were under 25 years of age. But during the first half of 2005, nearly 13% of people needing debt advice were aged between 18 and 25.
The CCCS said the increase was due to young people embracing freely available credit as a "way of life." According to Malcolm Hurlston, CCCS chairman, "Credit cards have blurred the distinction between borrowing and spending and for many young people, student loans have made borrowing normal. Bankruptcy figures are soaring."
The CCCS said the increase was due to young people embracing freely available credit as a "way of life." According to Malcolm Hurlston, CCCS chairman, "Credit cards have blurred the distinction between borrowing and spending and for many young people, student loans have made borrowing normal. Bankruptcy figures are soaring."
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