Debt pressures ‘worsening’

The scale of debt management burdens and personal finance pressures being faced by British consumers are worsening, according to recent research.

A report from the Alliance Trust suggests that everyday expenditure is being forced upwards and that the country’s financial wellbeing is suffering as a result.

Furthermore, the trust claims that many consumers are failing to realise the extent of their own financial vulnerability and are continuing to add to their debt management burdens.

Shona Dobbie, head of the Alliance Trust Research Centre, commented: “Our latest Financial Reality report highlights how acute the consumer’s predicament has become.

“Our measure of consumer wellbeing shows a worsening picture not only for household budgets, but for consumers’ net wealth and the economy as well.”

MoneyExpert.com reported recently that an increasing number of British consumers are failing to meet their mortgage repayment demands.