Wednesday 9th of February 2011
An increasing number of consumers in the UK may be struggling to make ends meet, after research found more than eight million Britons missed paying regular monthly bills last year.
Carried out by moneysupermarket.com, the study showed 17 per cent of adults failed to settle at least one bill in 2010.
So for those already deep in red, asking individual voluntary arrangement questions could be one way to drag themselves out of the mire.
The investigation revealed credit cards were the most likely to be ignored or forgotten, with almost four million individuals admitting they skipped such charges in the last 12 months.
Head of banking at the price comparison website Kevin Mountford said: "There is still a huge section of the UK population seriously damaging their credit profiles by missing payments."
The findings come after Moneyfacts.co.uk spokesman Darren Cook claimed many people in Britain are finding it increasingly difficult to obtain credit as a result of a shift towards more risk-based lending.
By Rachel Powell
