1. Introduction
2. Procedure
3. Findings
3.1 Young People – group description
3.2 Definition of credit and its different types
3.3 Young people and debt
3.4 Debt management
4. Conclusion
5. Recommendations

1. Introduction

This Report was compiled by Monika Kapral for a committee called the ‘Student Advice Bureau’ at Edinburgh College as their office deals with young people and their financial difficulties. Young People and debt report outlines and analyses the young people issues of credit and debt. Information included in the report will describe young people group, will give definition of credit and show different types of credit use by young people. Information about why young people are in debt and what are consequences will be presented. This report will also outline agencies which can help with debt management, where they are, and what they do. The conclusions will be drawn and recommendations which could help young people will be made.

2. Procedure

The information was compiled using secondary research – internet research and all information is coming from reliable resources such as www.cccs.co.uk, www.adviceguide.gov.uk , www.infohub.moneyadvicetrust.org .

3. Findings

3.1 Young people – group description.

Young people are a group of economical active 18 – 29 years old people, who are in education, employment or who are unemployed. Some of them may have issues with debt and credit because of growing living costs, not enough financial support during higher educations and having difficulties with finding employment. To support themselves they use different types of financial support and borrowing not only from the ‘Bank of Mum and Dad’ who may not always be able to provide sufficient funds.

3.2 Definition of credit and its different types.

Credit is an agreement in which a borrower