Many people in the UK experiencing debt problems in the tail end of 2007 are expected to have to pay the price in 2008, according to government figures.
Over £22 billion of arrears have been handed over to debt collectors this year, with the figure expected to rise to somewhere in the region of £24 billion for 2008.
Interest rate hikes from the Bank of England have left many consumers facing a difficult end to 2007, with things not looking much brighter for the new year.
A spokesperson for the CSA commented, "Over-indebtedness will be accelerated by more fixed-rate mortgages becoming variable at higher rates and access to new credit becoming harder."