A survey commission by uSwitch.com has found that 23% of British adults are facing money troubles fearing that their financial situation is or is about to become unmanageable.
Almost half of this number have missed payments in the previous 6 months on debts or bills, with almost that same number having experienced bounced direct debits or cheques. 3% of those surveyed feared they are about to loose their home.
A double whammy of banks taking more care in their lending whilst interest rates are higher is causing the problems, adding £100 per month to the average mortgage repayment.
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