Avoid living in the red with debt advice

24/02/2010

Debt advice could be the solution for the five million UK adults who are always in their overdraft.

New research from moneysupermarket.com has revealed that one in ten people live in the red and a further 12 per cent drop into their overdraft five or more times a year.

But it isn't all doom and gloom – these debt problems'>debt problems are getting easier as a larger amount – 17 per cent – of British adults were constantly overdrawn last year.

Moneysupermarket.com's head of banking Kevin Mountford says the improving figures don't mean we can throw caution to the wind though.

He says we still need to be concerned because "with rising inflation, it is going to be difficult for many to break the habit of living in the red and it may be that more people will fall back into this position as living costs increase."

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