‘Four in five young Brits in debt’

Four out of every five people aged between 18 and 24 in the UK have some form of debt, according to recent research.

Data collected by YouGov on behalf of the charity group Rainer suggests that the vast majority of young people around the country have debt management problems, while close to 40 per cent have debts of more than £2,000.

The YouthWorkNow news service reports that the study is to be published next month and reveals that as many as one in five Britons aged between 18 and 24 have debts worth more than £10,000.

“Most young people say if they are in debt they turn to parents or close family for help, but the young people we deal with can’t do that,” Joyce Moseley, Rainer’s chief executive is quoted as saying.

The Rainer group aims to offer support to underprivileged young people around the UK and has more than 50 services and schemes ongoing.