Debt management problems have been made worse for close to one in four borrowers in the UK over the course of the past three months, it has been revealed.
Figures compiled on behalf of MoneyExpert.com show that debt problems are getting worse for millions of credit consumers and nine per cent of people claim to have added to their arrears by more than ten per cent over the past quarter.
Furthermore, over ten per cent of British borrowers are now “very concerned” about their ability to avoid debt management disaster, which is a four per cent greater proportion than said the same three months ago.
“With the festive season just around the corner, we can only predict that the number of people worried about their ability to deal with their debts is likely to increase,” said Sean Gardener, MoneyExpert.com’s chief executive.
“Christmas is a massively expensive time of year so you can’t help but worry that many more are likely to become increasingly concerned about how they’ll cope.”
Thousands of people from across England and Wales approach Citizens Advice about debt each month, according to the organisation’s own figures.