A new study has suggested that there has been a significant rise in the number of UK homeowners who have missed a mortgage payment due to insufficient cashflow.

Cited by IFAOnline, the LeadPoint research shows that there was a one per cent increase in the number of missed contributions between March and April.

March figures showed that 12 per cent of homeowners had missed a payment, while in April, 13 per cent were said to have done so.

Commenting on the figures, Nick Chapman LeadPoint UK managing director, said: "Our analysis confirms that things are getting a lot tougher for consumers in the current market and will continue to do so over the coming months."

In collecting the data, the group compared more than 20,000 remortgage leads over the period.

The news follows recent figures from the Council of Mortgage Lenders showing that there has been a recent rise in the number of court repossession orders for those who have been unable to fulfil mortgage and debt obligations.

Credit reference service Call Credit has suggested that many UK consumers’ savings would not last them more than one month if they became solely reliant on them.

For 40 per cent of the working population, savings would run dry within this time period if their income was cut off.

A further 25 per cent of people have reduced their levels of saving in recent months in order to meet the costs of inflated monthly outgoings.

One in ten people were said to have dipped into savings to meet the costs of living expenses as the credit crunch and energy price hikes hit home.

"These findings are a stark illustration of how the credit crunch is already affecting consumers, it’s clear that the rising cost of everyday living is having an immediate impact on our ability to save," said Owen Roberts, head of Callcredit Check.

For those struggling with debt, the group advised consumers to seek independent financial advice to help plan the best course of action.

Elsewhere, the Thrifty Scot has recently identified individual voluntary arrangements (IVAs) as an effective tool for those who cannot meet the costs of outgoings and debt repayment commitments.

UK residents are spending big on the weekends, according to the Co-operative bank, with total average lifetime spending on Saturdays said to amount to £549,000.

Such a figure equates to an average annual weekend expenditure of £9,077 per year.

In turn, this means that Britons are spending an average of £175 every Saturday, despite growing concerns about debt and increased living costs.

Shoe and clothes were identified as the most commonly purchased items, while electronics goods and entertainment also featured prominently on spending receipts.

Maxine Xodo, product manager for The Co-operative Bank credit cards, commented: "It is important for people to plan ahead with their spending so it doesn’t come as a surprise when their bills come through the door."

More than half (54 per cent) of those interviewed said that they were justified in their sabbatical spending because they worked so hard during the week.

Last month, the Co-operative bank advised parents to be wary of debts and costs arising from keeping children entertained during school breaks.

For those struggling with debt, the first plan of action should be to draw up a budget, according to the Thrifty Scot.

By doing so, consumers can identify any area of spending that can be limited or curtailed in order to provide additional funds to go towards things like credit cards and mortgage payments, the online resource suggests.

Furthermore, individuals should look to pay off debts with lowest amounts first and make minimum contributions to larger bills.

When the smaller debt is paid off, the extra money that would normally have gone towards payment should be added to another larger bill, the advice site comments.

"Eventually you will see light at the end of the tunnel and have all your accounts up to date or paid in full," it asserts.

For those who with more substantial problems, debt management plans and individual voluntary arrangements are identified as effective tools to get finances back on track.

The Thrifty Scot has recently commented that the global credit crunch will continue to make it increasingly difficult for many consumers to obtain credit from lenders.

A growing number of loan sharks are looking to target vulnerable debtors by luring them in with promises of free financial advice, according to reports.

The Bankruptcy Advisory Service (BAS) has stated that about ten more advice sharks are emerging every week.

"A lot are internet based and claim to offer people help with their money worries, when in fact they are pushing them into inappropriate and expensive debt solutions," Joanne McGillan, BAS spokesperson, told the Guardian.

Meanwhile, the Consumer Credit Counselling Service has also witnessed a significant increase in numbers, with some companies targeting customers on individual voluntary arrangements (IVAs).

Consumers are informed that they may have been mis-sold the IVA and are advised that they should instead file for bankruptcy, with the shark taking an inflated fee.

Other scammers are targeting consumers by phone using automated dialing techniques in an effort to track down debtors.

Recent figures from the Ministry of Justice have identified a sharp rise in the number of people filing for bankruptcy in the UK.

The stigma surrounding indebtedness is beginning to dissipate, according to debt industry recruitment company Chase Credit.

Representing credit controllers, collections professionals, underwriters, credit risk analysts and managers, a poll of the company’s clients have shown that 84 per cent believe that debt is less of a taboo for consumers than it used to be.

Cited on MSN Money, the group’s findings also show that debt professionals feel that more people are turning to individual voluntary arrangements (IVAs) in order to avoid bankruptcy.

"Now that Britons are feeling the squeeze from inflation and the effects of the credit crunch, it comes as no surprise to me that more people are in trouble," said Chase Credit senior consultant Dan Curtis.

However, he urged consumers to think seriously about the effect that an IVA or bankruptcy claim would have on their future financial situation before pursuing such a course of action.

MSN Money has also advised customers who have found that they have missed a credit card payment to pay the bill as soon as possible.

Brits using their credit cards abroad are being warned against the practice as it could cost up to three per cent in fees on every purchase, according to a Moneyfacts spokesperson.

Michelle Slade at Moneyfacts advises individuals that really must use a credit card abroad to take a separate card with them for their vacation and advises that Abbey, the Post Office and the Nationwide Building Society offer cards that do not charge for overseas withdrawal.

She said: "Most credit cards charge a foreign usage charge, some as much as three per cent for both purchases and cash transactions. This charge is applied each time the card is used and can soon mount up to a significant amount."

In related news, the Consumer Action Group has warned that bank charges could come as a "savage blow" to people who are already struggling with increasing debt and stretched finances in the current economic climate.

Bankruptcy rates in the north-east hit the highest levels in the UK in the first part of this year, according to figures released by the marketing analyst firm KPMG.

The number of people being declared bankrupt in the region grew by 34 per cent between January and March this year.

Nationally, bankruptcy rates rose by 11 per cent over this period in comparison to the previous quarter, with individuals petitioning for their bankruptcy rather than being forced into it by creditors rising from 544 cases in the last quarter of 2007 to 731 cases in the first quarter of 2008.

Paul Bateman, KPMG’s head of personal insolvency in the north of England, said: "Consumers are seeing the cost of their mortgages increase, fuel costs continue to go up and now food prices are rising in a manner not seen for years."

David Kuo, head of personal finance for the Motley Fool, has urged consumers to take into account their current fiscal situation and to re-evaluate their lifestyle choices in what is a financially testing period for everyone in the UK.

The average rate of an unsecured personal loan has increased by one per cent in the last six months, despite the Bank of England cutting the base rate three times, according to figures released by MoneyExpert.

This is specifically on loans between £5,000 and £7,500 as experts still believe individuals can get more competitive rates if borrowing a larger amount.

Sean Gardner, founder of MoneyExpert, said: "You will pay lower rates on average if you borrow more. Lenders take the view that those borrowing more are generally a better risk than those borrowing less and offer better deals as a consequence."

Such news may be of interest for those looking to get a loan in an attempt to consolidate debts.

Figures recently released by MoneyExpert show that 3.24 million British consumers were turned down for a credit card deal in the last six months.

This rise in the amount of people not being approved for credit follows lenders tightening their criteria as to who they wish to lend to in what they see as a market growing in risk.

Rises in the cost of living are helping to force thousands of British pensioners into debt management difficulty, according to a new report.

Millions of retirees are facing money problems as a result of increasing food and fuel costs and for around ten per cent of these people the solution has been covering expenses with credit.

Almost 50 per cent of all the pensioners Engage Mutual polled recently said they are struggling to afford food and energy, while 13 per cent indicated that they were finding it difficult to pay off their credit card debts.

Furthermore, money problems have seen nine per cent of elderly Britons turn to their children in search of financial help.

"With the increased costs of food, fuel and mortgages taking effect, our research shows that those in retirement are becoming increasingly worried about being able to afford their everyday spending," said Karl Elliott, an Engage Mutual Assurance spokesperson.

Earlier this week, uSwitch.com suggested that debt management and money problems are forcing millions of British parents back into work shortly after having a child.