Belfast Telegraph

Friday 26 December 2014

Fears over worsening finances

More than a third of Britons expect their finances to deteriorate during the next six months, with growing numbers struggling to stay on top of bills and not go overdrawn, a research study has indicated.

Some 36% of people said they thought their financial situation would get worse, compared with just 17% who thought it would improve, according to insolvency practitioners trade body R3.

At the same time, 12% of people admitted they had fallen behind with bills, 16% expect to go overdrawn this month and 5% thought they would exceed their authorised overdraft limit.

Overall, the group said the proportion of people showing some sign of financial distress was at its highest level since it first began collecting the data a year ago.

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