![]() ![]() The Bank of England and the credit ratings agency Moody’s are among those who have warned that the situation could be problematic. The best that can be said of the matter, as compared to the pre-crash debt boom, is that at least there are worries about it. We are 10 years on from the start of the financial crisis, and unsecured consumer debt has reached more than £200bn for the first time since 2008. ![]() But what regulation cannot stop is need.’ Photograph: John Giles/PA ‘Recent regulation has lessened the ability of payday lenders to ruthlessly exploit the vulnerable. With wages stalled and prices rising, more and more are turning to loans and plastic cards to make ends meet The early signs of the 2007 credit crunch are back. Ten years on, we’re getting into another debt crisis ![]()
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January 2023
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