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Nearly a third `can`t cope with financial pressures`

25/03/2008

As many as 30 per cent of British consumers do not think that they can cope any longer with the state of their finances, a new survey has revealed.

Furthermore, five out of every six Brits feel that they are under pressure financially, with many increasingly looking to debt consolidation schemes to get them out of trouble.

The research from MoneySupermarket also found that just 16 per cent of consumers did not have any financial worries at all.

Tim Moss, head of loans and debt at the company, said: "I am really surprised by the extent of worry out there. Close to a third of Brits have obviously been really spooked by the budget.

"There is little doubt many Brits will find their annual road tax as high as the value of their car as from next year, creating a massive headache for people who are really struggling."

According to Credit Action, the average UK consumer owed £4,748 in personal loans and overdrafts at the end of January.

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