Credit Card News One In Ten Women Use More Than Half Their Wage To Pay Off Debt 135

One in ten women use more than half their wage to pay off debt

22 June 2007
Ten per cent of women have to give up half their monthly pay packet to pay off their debts, new research from MoneyExpert has revealed. The study shows that one in every 14 women has missed a credit card bill in the past 6 months, which are 1.6 million people.

The charge for missing a payment is, on average, £12, which means British women have been forking out £19million just on late or missed payment charges over the last six months, on top of the debt they have actually managed to clear.

The figures also revealed that women are more likely to miss their council tax too, with 5 per cent admitting they have missed it at least once since January.

“It all adds up to a worrying statistic: almost one in six women have missed an important bill in the past six months, from credit cards to loans, mobile phones or even mortgage repayments,” says “Missing bills can lead to serious consequences from losing a service to being taken to court.”

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Written by Editorial Team