Debt troubles now make up more than half of the issues brought to one Citizens Advice Bureau (CAB), it has been reported.

Nottingham and District Citizens Advice Bureau told the Nottingham Evening Post that 56 per cent of the problems it has helped with since April have been debt related.

This compares to 42 per cent for the same months during 2006.

Manager of the branch Trish Eaton told the newspaper: "We’ve seen a significant increase in these types of cases since last year."

Overall, Citizens Advice has reported an increase of 20 per cent in the number of debt problems brought to its advisors this year compared to last.

During 2006-07, 1.7 million debt issues were raised and director of public policy Teresa Perchard recently accused some lenders of behaving irresponsibly.

She said that total British personal debt is £1.3 trillion, making personal finances a big issue for the country’s economy.

Money worries cause emotional and physical effects on 15.6 million adults, yet Britain considers gun crime and terrorism of greater importance, a new report has revealed.

A study published by insurance provider AXA found that when questioned about the social issue most affecting them personally, 43 per cent of respondents listed financial concerns.

However, when questioned about the social issue most affecting Britain, only 21 per cent listed money trouble.

Steve Folkard, spokesman for AXA, said money worries need to be recognised as a "major social issue" as they affect a far greater number of people than those directly touched by terrorism or gun crime.

He said: "The research highlights the impact money problems is having on millions of people … yet it is still not treated by individuals or the government as a problem worthy of the level of media attention given to these other issues."

Earlier this year, research conducted by Alliance & Leicester found 3.4 million Britons listed money as the biggest issue in their lives, with 18 per cent admitting they worried about it every day.

More than one in four debt-ridden adults fell further into the red during the last three months, new research has revealed.

The study by price comparison website MoneyExpert.com also found that one in ten of those in debt are "very concerned" over their ability to cope.

It claims that equates to as many as 3.4 million people potentially unable to manage their borrowing.

Sean Gardner, chief executive of MoneyExpert.com, said with Christmas looming, that figure could increase.

He called upon those struggling with their finances to take action as soon as possible and said there are many options open to those having difficulties.

"Whether you need to consolidate your debts with a loan or just juggle your borrowing onto cheaper products, the important thing is to work out a repayment plan and not bury your head in the sand," urged Mr Gardner.

Research conducted earlier this year by moneysupermarket.com found more than five million Britons believe they will always have debt.

It highlighted that personal debt within the country grows by £1 million each minute.

Credit is still easy to obtain, four in ten respondents to a recent survey have claimed.

A study by financial advice firm the Debt Counsellors has found that six in ten of the people they questioned believe that despite the credit crunch, the checks made to ensure a debtor can afford repayments are still insufficient.

Some of those questioned claimed their debt had been building for more than two years, while many admitted to feeling "depressed or worse" over their borrowing levels.

Experts recommend that when faced with difficult debt, the borrower takes action as soon as possible rather than leaving the problem to become worse.

There are several options open to the debtor, including remortgaging, debt management and individual voluntary arrangements (IVA).

Borrowers facing bankruptcy can consider the possibility of an IVA as an alternative. It can allow them to make a single, affordable monthly payment to their creditors and guarantees they will be debt-free within a set period of time.

Families in Wear Valley have been warned to steer clear of debt his Christmas and avoid a "financial hangover".

Debt advisors from the local Citizens Advice Bureau (CAB) told the Northern Echo the area has one of the highest levels of debt in Britain.

CAB spokesperson Peter Singer acknowledged it could be difficult not to edge into the red as the shops are filled with food, games and presents, but added that many people suffer the effects of overspending in January and February.

"Christmas should be fun, but it can be an expensive and stressful time as well, particularly for families struggling with a low income," he stated.

A recent study by Lloyds TSB revealed 59 per cent of Britons anticipate overspending this festive season, anticipating an additional spend of £174 each.

It found 41 per cent of those questioned said the most likely reason for overspending at Christmas is failing to set a budget for the season.

Individual voluntary arrangements (IVA) have been a "wonderful success story", an expert has commented.

Spokesman for the UK Insolvency Helpline Ian Richards said the IVA, which the government created in 1986, has been "fantastic".

However, he said in the future, there is likely to be an increase in debt management, which may have been looked down on in the past as a route out of debt.

"The main point is the IVA is a fantastic way out of debt, but there are other ways that are just as good to get out of debt," Mr Richards suggested.

Government statistics reveal that during the second quarter of 2007, nearly 10,700 IVAs were taken out while almost 16,260 bankruptcies were filed.

IVAs were created to provide an alternative to bankruptcy for individuals struggling with problem debt.

They can allow the debtor to make affordable monthly repayments for a set period of time, after which any remaining sum owed is written off.

A debt problem is not usually caused by Christmas overspending although that can be the "tipping point" for some people, an expert has claimed.

James Ketchell, spokesman for the Consumer Credit Counselling Service (CCCS), said his organisation is busiest directly after Christmas each year.

However, as the credit crunch has made it more difficult for people to borrow, it is possible fewer people will seek help with debt in January, he suggested.

Those with bad credit ratings should remember that: "If you do receive credit it will be more expensive than a mainstream credit product…People need to take that into account when taking out their loan or credit card," Mr Ketchell urged.

Citizens Advice reported that it received 15 per cent more requests for help with debt in January 2007 compared to 2006.

Financial advice charity Credit Action reports that in December last year a record high of £31 billion was spend using plastic.

Many credit card users have had their credit limit increased without requesting it, new research has shown.

A study by consumer magazine Which? Money revealed 71 per cent of credit card users had been given an unsolicited rise in their credit limit while 62 per cent had been sent credit card cheques without requesting them.

Research published recently by price comparison site uSwitch.com warned that 313 million credit card cheques were issued last year without being requested.

This form of credit is usually more expensive than using a credit card and Mike Naylor, personal finance expert with the site, said the findings raise questions about the providers’ commitment to responsible lending.

He said: "It is easy to see how credit card cheques can appear a very attractive option for borrowers who are desperately in need of money."

Borrowers who use such credit as a "quick fix" could end up with a "serious financial hangover", concluded Mr Naylor.

Many of the victims of last year’s Farepak collapse have been forced into a "cycle of debt", it has been claimed.

Unison, Britain’s biggest trade union, made its comments to parliament on Monday, asking why Northern Rock customers were protected but those who lost an estimated £40 million in the Christmas savings scheme last year were not.

The union conducted interviews with Farepak savers and found many had been forced to borrow from relatives or apply for expensive loans.

Unison general secretary Dave Prentis said: "Many thousands of low paid workers … lost money and faced a bleak Christmas as a result of the despicable behaviour of the companies involved."

Whatever the reason for expensive debt, many borrowers are beginning to feel the strain.

According to Citizens Advice, it dealt with more than 1.7 million debt problems last year which is an increase of 20 per cent on the previous 12 months.

It accused some companies or irresponsible lending and expressed concern that the collapse of Farepak and issues at Northern Rock had further damaged faith in the financial services market.

A woman has been jailed for six months after stealing from her City employer to repay her boyfriend’s credit card debts.

Yinka Saunders, aged 24, faked a colleague’s signature to siphon funds from PriceWaterhouseCoopers as she felt under pressure to help her boyfriend who had debts amounting to £40,000.

Michael Mulkerrins, prosecuting, said: "She was in a relationship and had taken on debts she couldn’t service, and so commenced a spate of periodic minor thefts from her employer," London’s Evening Standard reports.

According to research from Fairinvestmentco.uk, debt can cause "stress, anxiety and even depression".

It warns those with problem debt to face up to their problems as soon as possible to avoid them worsening.

One possible route out of debt and an alternative to bankruptcy is an individual voluntary arrangement, where the debtor repays a certain affordable sum each month for a set period of time.

Following that period, any remaining amount owed is written off.