Scottish debt services company INVOCAS expects the already massive amount of personal debt in the country to grow.
John Hall, the chief executive for INVOCAS is concerned about the financial situation many Scottish consumers find themselves in and stated: "The potential (of the situation) is quite frightening. "How many people will be pushed to the brink if there's another rise in interest rates or a change in personal circumstances?"
He went on to state that the debt problems of Scotland are even worse than those south of the border, commenting: "The average Scot has the same aspirations in terms of living standards and spending as anywhere else in the UK, but they're doing it from a slightly lower wage base and a much lower asset base."