The average Briton remains in debt until they are more than 50 years old, a new report has revealed.
A study by financial advice source Your Money Matters has found most Britons will have unsecured loans until that age, with the average man owing more than £10,000 and women owing an average of almost £8,000.
The research showed people rely on salary, windfalls and inheritance to pay off their obligations and become free of debt.
Research conducted by price comparison website moneysupermarket.com revealed five million people believe they will always be in debt.
Tim Moss, head of loans and debt at the site, said owing money has become the "curse" of modern day life, with many Britons finding themselves unable to cope with their borrowing.
He said that while 40 years ago debt was unusual, it has now become the norm and many people consider it to be a "necessary evil".