Press & PR

Nearly one in four Britons are struggling to come to terms with their level of debt, a new report suggests.

About 23 per cent of people are deeply concerned that their borrowings are close to becoming unmanageable or have already passed that point.

And one in ten claim to be trapped in a cycle of debt where they have to borrow more money merely to meet their existing obligations, according to price comparison website uSwitch.com.

The firm's director of consumer policy, Ann Robinson, said that the current situation was being made worse by the global credit crisis as banks and mortgages lenders are putting more pressure on consumers to pay up their debts on time.

"This is crunch time for consumers and it couldn't come at a worse time of year. In the run-up to Christmas, traditionally one of the biggest periods of consumer spending, people are concerned about their jobs, their homes and their ongoing ability to manage their debts and bills," she said.

"The days of easy credit and the 'buy now, pay later' culture may be numbered, but they will leave a painful reminder for those left struggling with debt."



Finding ways to save money on current outgoings can help ease the burden of debt, so concerned Britons may want to consider switching to internet phone services to see a reduction in their phone bills.

Call plans from industry leader Vonage start at a flat fee of £5.99 a month for unlimited free calls to anywhere in the UK and Ireland, while other plans expand the service across up to 25 countries.