Debt ' a concern to many British consumers'

Many of the country's consumers are having to face up to the prospect of personal debt concerns at the present time, new figures have suggested.

According to insolvency trade body R3, as many as four out of ten of those people polled in a recent survey are experiencing debt worries at the moment.

Overdraft debt is currently said to be playing on the minds of 32 per cent of the study's respondents.

Steven Law, president of the organisation, says he is alarmed by the R3 research.

He commented: "The research shows how debt has become a fact of adult life - starting with a student loan and eventually graduating to a mortgage, credit cards and loans."

Meanwhile, separate R3 research has recently focused on people's payday finances.

The body revealed that 42 per cent of the country's employees find it tricky to stretch their finances until payday each month.

Posted by Tom Burroughs.