'More Brits' are struggling with debts

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'More Brits' are struggling with debts

More and more people across the UK are struggling to keep on top of their debts in the current financial climate, it has been revealed.

David Rodger, managing director of registered UK debt charity, Debt Advice Foundation, said there is a two-fold reason for the fact that more people are struggling to service their borrowings - the fact inflation is rising but wages are not keeping pace.

He advised those struggling with their borrowings: "Take the brave first step of contacting a debt advice charity offering free and impartial guidance. If you are not ready to talk, download some of the online tools developed to help people to budget."

Indeed, these services can help people calculate the best way to tackle their debts and can even contact creditors if required.

According to figures from the Council of Mortgage Lenders, the number of properties taken into possession by mortgage lenders in the third quarter of 2011 was 9,200 - virtually unchanged from 9,100 in the second quarter.

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