Interest rate rises 'could lead to debt problems'

Debt may become more of a problem for some people when the UK's interest rates begin to increase in the future, according to one expert.

Beccy Boden Wilks, who acts as a debt adviser for the Money Advice Trust, believes that 2009's festive season could be the busiest ever experienced by the charity that she works for.

She went on to say: "When interest rates start to rise - whenever that will be - many households that are already struggling may find themselves in unmanageable debt situations."

The expert has also noted that issues relating to mortgage payments appear to have been of particular concern to a number of UK consumers in recent weeks.

Meanwhile, Adrian Lowcock of Bestinvest recently suggested that those looking to manage credit card debt in 2010 should take the time to organise which of their debts it would be most beneficial to pay off first.

Written by Tom Burroughs.