Britons sitting on a £5bn black hole of ‘hidden debt

Britons are using cash meant for rent, council tax and utility bills as a loan to cover other household bills, almost £200 (per person) has been built on average in unpaid rent and council tax and overdue gas and electricity bills, the report from Demos claimed. 
These debts are not included in formal figures on levels of household debt, but can have just as damaging an impact on people as payday loans, it said.
Demos said around nine in ten adults in the UK are in some form of debt, and the most common reasons for borrowing money were for a one-off purchase or unexpected event. 
However, the report said ‘worryingly’ almost one quarter of people had dug themselves into debt to cover everyday living costs such as food, heating and clothing’.

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