Fifth of Brits 'struggling to manage debt'

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Fifth of Brits 'struggling to manage debt'

Tue 10th Jan 2012

Up to one-fifth of the adult population across the UK are presently struggling to keep on top of their financial commitments, with mounting debt issues a growing problem for many, it has been revealed.

According to the Money Advice Trust, ten million people across the country are facing a constant struggle to manage their finances, while a further 2.5 million Brits are presently in arrears with at least one consumer credit product, household bill or payment.

Joanna Elson OBE, chief executive of the Money Advice Trust, said: "It is so important that people are aware of and can access the free advice that can make the crucial difference between allowing a difficult situation to spiral into unmanageable debt and regaining control of your finances."

The news follows comments by David Rodger, managing director of the Debt Advice Foundation, who claimed that every year, the number of people seeking debt advice doubles in the month of January, as people look to sort out their finances following the excesses of the festive period.

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