Private Debt in the UK a panel presentation by Emma Bryn-Jones to the Rosa Luxemburg Foundation / EURODAD Conference Alternative Solutions to the Debt.

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Private Debt in the UK a panel presentation by Emma Bryn-Jones to the Rosa Luxemburg Foundation / EURODAD Conference Alternative Solutions to the Debt Crisis Friday 7 th March 2014

8.8 million over-indebted adults undoubtedly vulnerable to low / reduced income distressed, distracted and / or financially vulnerable principally distressed that risk taking has backfired SOURCE: MONEY ADVICE SERVICE, INDEBTED LIVES, NOVEMBER 2013

Credit Outcomes Distribution Deficit Credit agreement

Comparing tenure of over-indebted people with English Housing Survey SOURCE: MONEY ADVICE SERVICE, INDEBTED LIVES, NOVEMBER 2013 SOURCE: COMMUNITIES & LOCAL GOVERNMENT, ENGLISH HOUSING SURVEY

Payday loans as a percentage of unsecured lending SOURCE: OFFICE OF FAIR TRADING, PAYDAY LOAN MARKET INVESTIGATION, JULY 2013 total lending = fashion?unsecured lending = cosmetics?

The Independent17 October 2013 The cost of living crisis afflicting millions of Britains families is so bad that it is creating a personal debt crisis too. The prices families have to pay keep on rising faster and faster than the wages they are paid. And, as a result, the market in payday lending has doubled in just four years. ics/labour-leader-ed-miliband-declares-tax- war-on-payday-lenders html

Gender and age of over-indebted adults SOURCE: MONEY ADVICE SERVICE, INDEBTED LIVES, NOVEMBER 2013

Experiences of debt collection by gender and age SOURCE: ZERO-CREDIT, THE DEBT RESOLUTION FORUM 2013 CLIENT SURVEY

Solutions Optimise the collective, not your bias Empower the collective from within Make market forces count