More than one million young Britons are struggling to cope with debt, the Consumer Credit Counselling Service has revealed. In its report ‘Debt and the Generations’, the CCCS says consumers under the age of 40 are struggling against higher built-up debts, reducing real incomes and increasing difficulties in saving for retirement. The research found more than one million (1,039,000) households in the 18-39 age group are already struggling to cope and a further 893,000 are “at risk” of falling into difficulty. Almost three-quarters of people aged 18 to 39 now have unsecured debts, compared to around 60% of the 40-54 age group, says the CCCS.

The debt charity found younger households are more likely to be behind with their debts, with those in the 25 to 39 age group more than twice as likely to be in arrears or insolvency as those in the...Read more here--> Young people face future debt problems