New research has revealed a lax attitude towards debt issues by the majority of Britons. Personal debt in Britain currently reaches over £1,460billion however of those surveyed by moneysupermarket.com 66% said they were not worried about their debts, even if they were to lose their jobs.

Only 35% were concerned at the prospect of debt collectors arriving at their door, and 66% were not concerned if their debt problems reached the extent that they could not pay their gas or electricity bills. Just under half (43%) said they would be concerned if they couldn't pay their mortgage or rent.

Tim Moss, head of loans and debt at moneysupermarket.com, said:

“Many people are being pushed to breaking point by the spiralling cost of living and the ongoing effects of the credit crunch but, as our research shows, people do need to be aware of their own financial circumstances and not bury their heads in the sand.

“Missing a payment, whether to a credit card, mortgage or utility provider, can mean serious trouble; not only will consumers increase their overall debt levels, but their chances of obtaining the best credit products in the future will be severely reduced.”

If you require legal advice in respect of a debt matter, or require information about insolvency, IVAs, bankruptcy etc contact Wilson Nesbitt solicitors by emailing debt@wilson-nesbitt.com .

Alternatively, you may wish to visit the bankruptcy and debts section of the Wilson Nesbitt website by clicking here.