Cost of living plunges disabled into debt crisis by Finance News Bulletin

Published: 19/01/07

stable increases in the cost of living have resulted in disabled people sliding into serious debt, according to a new account by disabled charity Leonard CheshireThe account estimates that nine out of ten disabled people with money owing problems regularly run out of money and the majority make under £10,000 a yearThis situation drives two out of five disabled persons to look for loans and other forms of credit to meet the demands of higher living expenses on a below-average incomeJohn Knight, head of policy at Leonard Cheshire, said: "as easy access to praise is part of the problem, for disabled people a significant amount of debt comes from essential purchases…this foliage disabled people particularly vulnerable to spiralling money owing which they have little prospect of clearing

"The charity also criticised the praise industry for be short of of understanding of the impact that a disability can have on a being's life, citing the inflexible attitude taken by lenders when tackling the issue of money owing repaymentThe report called for government and industry act to help to alleviate the money owing burden of the disabled, including responsible lending and obvious credit documentationMoneyExpert Limited is authorised and regulated by the Financial Services Authority (FSA register No 301654)

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