More than 10m UK adults ‘struggling with bills and credit repayments’

Around 5.6 million adults were estimated to have missed bills or loan payments in at least three of the previous six months, the FCA said.

Around three million more people were estimated to be struggling with bills and credit repayments by the start of this year than in spring 2022, according to the Financial Conduct Authority (Alamy/PA)

Around one in five adults were finding bills and credit commitments a heavy burden by the start of this year, according to the City regulator.

The number of adults struggling this way is estimated to have increased by 3.1 million since May 2022, the Financial Conduct Authority (FCA) said, jumping from around 7.8 million (15%) in May last year to 10.9 million (21%) in January 2023.

The number of UK adults who had missed bills or loan payments in at least three of the previous six months is also estimated by the regulator to have increased by 1.4 million, from 4.2 million (8%) in May 2022 to 5.6 million (11%) in January 2023.