Fears among British consumers about their ability to clear debts have increased considerable over the course of the past three months, it has emerged.
According to figures compiled by MoneyExpert, around 38 per cent of consumers with debts are worried about whether or not they will ever be able to pay them off.
This amounts to just over 13 million people with debt problems – an increase of around five per cent since the end of February.
Furthermore, the latest data suggests that an increasing number of people who are already in debt are taking the risk of adding to their money problems by borrowing more cash.
"There are many economic and political measures of a downturn, but there is nothing quite as real as people in debt saying they can’t repay the money they owe," said Sean Gardner, director of MoneyExpert.
Experian reported last week that cars are the most common purchase that leads UK consumers into debt and potential money problems.