One in Ten People Now Miss their Loan Payments

The number of Britons finding that they are unable to pay their mortgages, loans or credit card bills every month has soared in the last six months.



Figures were revealed yesterday that showed that more than one in ten people are struggling to pay their monthly bills as the credit crunch continues to cause havoc.



Financial experts have said that they believe the financial situation is only likely to get worse as it is thought that many more bills will go unpaid in the coming months. This is due to the worrying financial state that the country has found itself in and as it tumbles towards recession, the pressures are mounting on many families around the country.



Research from a leading price comparison website has found that at least five million bills and loans have been unpaid, with credit cards proving to be the hardest repayments to keep up with.



It was found that four million credit-card users had admitted to missing a credit card payment in the six months leading up to September. This equates to around nine per cent of the bill paying British public.



Some of the most worrying information discovered by the price comparison site was that a large number of people are missing payments on their personal loans. This was found to increase considerably during the six month period where the information was collated from.



In these six months it was found that more than 1.3 million people missed at least one of their personal loan repayments, however, the previous six month period had shown that there were only 859,000 people who had been unable to pay for one or more of their loan repayments.



Many people have found that they have had to resort to such methods as taking out payday loans. This is a loan, usually a relatively small one, which can help tide you over until you receive your next pay-cheque. This can be a great help when you are struggling one month but if it was to become a habit, that's when there's real room for concern over your financial situation.









Research from a leading price comparison website has found that at least five million bills and loans have been unpaid, with credit cards proving to be the hardest repayments to keep up with.



Some of the most worrying information discovered by the price comparison site was that a large number of people are missing payments on their personal loans .



Many people have found that they have had to resort to such methods as taking out payday loans .