On Monday 2 April, CHASM’s Professor Karen Rowlingson featured on the ‘You and Yours’ Debt Special radio show, hosted by Radio 4 DJ Samantha Fenwick.
Karen imparted her CHASM research findings around how attitudes to debt have changed over time, together with the impact that this is having across the UK. For example, our latest financial inclusion monitoring report shows that credit card lending is now at a higher level than at the peak of the financial crisis. Currently 3 million households are paying more than 25% of their income to creditors, representing more than 10 % of the population.
Karen spoke alongside Hollywood actor, Michael Sheen, who was also interviewed to talk about his new End High Cost Credit Alliance, promoting ‘fairer alternatives’ and more affordable ways of borrowing money. Karen highlights this alliance in her interesting Conversation article written prior to the radio show. The alliance was formed in response to the fact that those on the lowest incomes pay the most to borrow money even where they are borrowing for essentials. It aims to debate the changes needed to deliver healthy credit solutions and calls for changes to policy, regulation and practices to make credit fairer for all.