‘Tough year’ forecast for indebted Brits

British consumers who are dealing with debt management problems are likely to have a difficult year financially during 2008, it has been suggested.

According to Callcredit, the rises in the cost of living and the reduction in the typical scale of disposal income among UK households is likely to see thousands of families being “squeezed from all sides”.

With this in mind the credit reference company is keen to see consumers around the country keep up to date with their own personal finance situation.

“Regularly checking your credit report is an essential part of a healthy financial lifestyle,” said Owen Roberts, head of consumers affairs at Callcredit.

The comments from the credit reference firm came after figures revealed by the Conservatives showed that disposal income levels have fallen by around £300 per year for UK households since 2006.

MoneyExpert recently advised consumers who are struggling to become debt free to prioritise clearing their most expensive credit deals.