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Soaring debts of the middle class on working-class pay; Rosie Millard: 'Cheques bounced daily'.

Publication: The Daily Mail (London, England)
Publication Date: 21-APR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: Becky Barrow

THEY want to enjoy a middleclass lifestyle, with private schools,designer clothes and lots of foreign holidays.

But the problem for millions is that they have only a workingclass income.

The result is soaring levels of debt on credit cards and personal loans,according to research revealed today.

A report from the price comparison website Moneysupermarket.com identifiedaround 2.7million 'social climbers' with an average personal debt of [pounds sterling]13,000excluding mortgages.

It said they are 'deluded' and 'living a middle-class fantasy' - without thesalary to pay for it.

Many are using debt to finance the privileges of the middle and upper classes,such as private schools, second homes, cleaners and gardeners..

Others are enjoying several foreign holidays a year and dressing expensivelydespite their relatively modest earnings.

Researchers interviewed 2,000 respondents,...

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