Incomes collapse - Borrowing to stay warm

AN Irish League of Credit Unions (ILCU) survey paints a grim picture of how the recession is changing the lives of so many Irish people.

One in four will struggle because of rising energy costs and 15% of those surveyed suggest they will use savings to pay winter heating bills.

The core message is that disposable income levels have fallen dramatically. Though this is hardly news, it is still disconcerting that 8% of respondents are not able to cover essential bills and the number of people who use all of their income to live has jumped from 7% in June to 12%. Almost inevitably this debt-driven crisis leads to more debt.