57% of families in debt in 2013, CSO study finds

Ireland’s debt crisis remains a very real spectre for struggling families, with over half of all households saddled with mortgage, overdrafts and credit card debts.

The findings are contained in the first CSO Household Finance and Consumption Survey, which offers an insight into the financial state of Irish homes in 2013.

The study found that almost 57% of families were in debt in 2013, with two thirds owing money on their mortgage. The average amount of debt on this mortgage is €129,000.