Some Britons face a "minefield of money worries" this January as the effects of the credit crunch squeeze their household incomes, a leading body has warned.

Provider of employee assistance programmes CiC has stated that debt can take over people’s lives and leave them unable to concentrate and plummeting down a "deep spiral of depression and anxiety".

"Unable to concentrate at work, making mistakes, becoming moody and agitated with work colleagues as well as friends and family, the issue can consume all of our thoughts," it has suggested, following the publication of a debt fact sheet.

Debtors should remain calm and face up to the situation in which they find themselves, CiC urged.

Furthermore, they should not feel ashamed as debt has affected millions of others, the body continued.

According to financial advice charity Credit Action, personal debt levels in the UK rise at a rate of £1 million every five minutes.