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Poverty and Social Exclusion in the UK: Vol. 2The Dimensions of Disadvantage$
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Glen Bramley and Nick Bailey

Print publication date: 2017

Print ISBN-13: 9781447334224

Published to Policy Press Scholarship Online: May 2018

DOI: 10.1332/policypress/9781447334224.001.0001

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Financial inclusion, financial stress and debt

Financial inclusion, financial stress and debt

(p.267) Eleven Financial inclusion, financial stress and debt
Poverty and Social Exclusion in the UK: Vol. 2

Glen Bramley

Kirsten Besemer

Policy Press

Exclusion from financial services in the form of bank accounts has fallen and appears less significant than informal borrowing and problem debt, which have increased dramatically and are strongly associated with poverty. The most common arrears problems are with housing, local taxes and utility bills, not consumer credit. About a fifth of households are not poor but exhibit similar signs of financial stress. Family remains more important than ‘payday lenders’ as a source of informal lendng,underlining the importance of social capital

Keywords:   Financial inclusion, Financial exclusion, Financial services, Informal borrowing, Problem debt, Financial capability, Financialisation

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