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- Title
The impact of unsecured debt on financial distress among British households.
- Authors
Ana Del-Río; Young, Garry
- Abstract
This article examines survey evidence on the extent to which households consider unsecured debt to be a burden, using this as an indicator of financial distress. Its aim is to quantify the level at which unsecured debt becomes a problem for the typical household and what other factors affect this outcome. The article uses evidence for 1995 and 2000 from the British Household Panel Survey, which since 1995 has questioned households about their attitudes to unsecured debt. The estimates suggest that the main determinant of debt problems is the unsecured debt to income ratio.
- Subjects
UNITED Kingdom; SURVEYS; DEBT; HOUSING; FINANCIAL crises; ESTIMATES; DEBTOR &; creditor; INCOME
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 2, p186
- ISSN
0005-5166
- Publication type
Article