Women more likely to be in debt

Women are more likely to run up unsecured debts on credit cards, loans and mail order catalogues, research from the Fawcett Society suggests.

According to the Daily Mail, the group - which campaigns for equal rights for women and men- cites single parenthood, looking after relatives and being in lower paid jobs than men as reasons behind the findings.

Young women in particular, were shown to be more susceptible to the lures of door-to-door money lenders and other expensive ways to borrow money.

"There are clear triggers for getting into debt, such as a relationship breakdown, loss of a job or illness and financial and social exclusion," Paul Mullins, National Debtline chief executive, told the Daily Mail.

He continued: "Low levels of financial capability can also lead people to take on loan commitments without understanding crucial terms and conditions, such as interest rates."

The Fawcett Society is named after British suffragist of the late 1800’s, Millicent Fawcett, who campaigned for better opportunities for women, especially in higher education.