Starting a family causes 10% of serious debts

Andrew Matthews/EMPICS Sport

Whilst unemployment, illness and divorce remain the largest factors for debt, research by debt forum IVA.co.uk has revealed a surprisingly large number of people citing starting a family as another major factor.

The survey was conducted amongst members of IVA.co.uk, with debts ranging from £1,000 upwards, and 45% of whom had over £30,000 of debt. 10 percent of respondents said the costs of having children pushed them into debt.