Debt problems to get worse?
23/02/2011Debt problems are only expected to get worse as time goes by for many Britons in 2011, as new studies show four in ten people expect their finances to go downhill.
More than 40 per cent of consumers think their financial situation will get worse over the next six months, according to a quarterly survey by insolvency trade body R3.
This represents an increase of 13 per cent compared to the last quarter.
In data which shows even more bad news for debt problems, less than a quarter of people believe their financial situation will improve at all, in the same period of time.
The research also shows the number of people worried about their current levels of debt has gone up by six per cent in the last quarter, with almost half of people now concerned about the debt they now owe.
Credit card debt continues to be the main source of worry, with more than half 56 per cent expressing concern regarding what they owe on plastic. 
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