Coping with debt as a single parent

One of the Uk's most vulnerable groups when it comes to debt is single parents. In England, Scotland, Wales and Northern Ireland, Lone parent debt has increased enormously over recent years. Whilst its on the increase in the UK, it need not become the problem it looks like becoming. The root causes need to be tackled if we are going to prevent this.

“Because single parents are being denied access to conventional banking services, they are being forced into using doorstep lenders, a new report warns”.

How much of an issue has single parent debt become?

There is a large majority of lone parents who rely heavily on credit on a day to day basis to manage their finances. Mail order catalogues and door step loans are expensive ways to borrow, yet many single parents are forced to go down this route.

Accepting that almost half of single parents owe money on household bills and more than a quarter of single parents do not have a conventional bank account, many lone parents who experience financial hardship miss out on direct debit savings.

In comparison to two parent families, single parents are a lot more likely to have longstanding debts.

In a survey almost 40% of single parents said they felt they were "always in debt", compared with only 28% of couples. Also, in the same survey, single parents were twice as likely as couples to have arrears on household or consumer credit bills.

How to break the cycle of debt?

We constantly get calls from single mothers and single fathers on our free phone helpline (0800 018 6868) who are concerned about falling into the traps that create the Help with the effects of the debt cycle after having gone through a family-break up.

The financial sector and government need to work together to deliver accessible advice and appropriate services for the many families who need help.

Either call our free single parent debt helpline or submit your details online and one of our trained debt advisors will call you back at when it suits you.

This is a free, no obligation, confidential service and no sales person will call.