Being in debt used to land you in prison – indefinitely – not any more. These days one person in three goes overdrawn every month and the average household has £10,000 in unsecured debt – and that’s not even counting mortgages.
So what happened? How did we become a nation of habitual debtors and can anything be done about it?
Watch out video to find out.
Watch more episodes from Yahoo! Finance's How Money Works series