Consumers in the UK who are struggling with debt management plans, are getting caught up with keeping up with their friends instead of concentrating on clearing their arrears.
A report from CreditExpert has shown that 37% of consumers pay for items in social situations because they're worried about not fitting in. Antoher 26% pay up because they don't want people to find out about their poor financial situation.
A spokesperson for the group commented on the findings: "Spending beyond your means because of peer pressure can result in mounting debts which could lead to a bad credit rating and, unfortunately, if your credit rating is unattractive to lenders, they will be less inclined to offer you credit."