Personal debt a 'fact of life' for Brits

New figures show that personal debt levels are on the rise. 

On average, people in the UK owe £8,400, moneysupermarket.com has revealed.

Men are generally financially worse off than their female counterparts.

Furthermore, women were found to worry about their debts much sooner than men.

Tim Moss, head of loans and debt at moneysupermarket.com, explained: "Recent changes in taxation limits, removal of certain benefits and the soaring cost of living has seen many the nation's personal finances squeezed more than ever."

He emphasised that people need to take action to reduce their debts before they get out of control.

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Published on: April 13, 2011

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