July
11
Author
Richard Wilson
End the Debt Trap

Debt is a huge problem in our society. A number of churches are actively involved in this area, particularly using the resources provided by CAP and CMA.

With other concerned groups and charities, Jubilee+ has been campaigning in this area and it was in this connection we were represented at a recent event at Westminster organised by the End the Debt Trap Coalition. 

The focus of the meeting was hearing personal stories from representatives of the Unfair Debt Group, a group of East Londoners who are facing debt and financial issues and want to take action. The group were given a sympathetic hearing by the MPs present, Yvonne Fovargue, Sir Vince Cable and Sir David Amess. 

At the event a report was launched on regulating the credit card market. It says: 

"The UK's credit card market is in danger of spiralling out of control. The Bank of England's latest figures show that households currently owe a total of £72.4 billion on their credit cards; this is a record high and approximately one-third of all household consumer debt. Credit card debt is also growing at an alarming rate."


For more information on the End the Debt Trap Campaign visit their website: www.neweconomics.org

Click here to see our previous posts around the issue of debt.