Many of the country's consumers are having to resort to debt in order to meet their living costs, new research has shown.
According to the switching website
uSwitch.com, as many as nine million of the UK's residents may currently be in this position.
However, in a development which may not prove to be positive news for those looking to avoid
bad credit ratings, the site suggests that debt repayments are posing problems for 14 million people.
The uSwitch.com director of consumer policy Ann Robinson believes that the current financial environment is proving difficult for many of the nation's consumers.
Ms Robinson stated: "Rather than continuing to plug the hole by borrowing, consumers need to work harder to strip down their essential bills to the bare minimum."
Last month, the expert also noted the impact that unemployment figures could have on the degree of confidence that people are feeling.
Posted by Gemma Walker.
