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FCA highlights eight percent of UK adults have not paid bills in three of the last six months

​The FCA has today (18 October 2017) published results from its first Financial Lives Survey which tracked UK consumers and their use of financial services.

Findings show that at least eight percent of UK adults are in financial 'difficulty' with a further 27 percent 'surviving' and at risk of falling into difficulty if their circumstances change.

The survey draws upon responses from just under 13,000 UK consumers aged 18 and over.
 
Joanna Elson, chief executive at the Money Advice Trust, the charity that runs National Debtline, said:
 
"These findings confirm the scale of the financial issues that millions of people in the UK face, with 27 percent of UK adults just ‘surviving’ and at risk of falling into difficulty if their circumstances change.
 
"8 percent of people highlighted in this research are already struggling to pay bills. With this week’s announcement of inflation rising to three percent, increasing living costs, low wage growth and a likely rise in interest rates, we are concerned that more families with already squeezed household budgets will be pushed into difficulty. 
 
"Anyone who is struggling to cope with their finances, or is concerned that they may in the future, should seek free advice from a charity-run service like National Debtline, to try and stabilise their situation as soon as possible."
 
National Debtline offers free debt advice at www.nationaldebtline.org or on 0808 808 4000, Monday to Friday 9am to 8pm and Saturday 9.30am to 1pm.
 
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