As the UK struggles to cope with the credit crunch, more people than ever are having to come to terms with filing for personal bankruptcy and losing their homes.
Providers have tightened their lending conditions, meaning many consumers have no route out of the debt they have built up.
In a report by the Times, Gary Duncan commented, "The financial screws on Britain's households are being turned still tighter as the global credit crunch leads banks and other lenders to ratchet up their rates for remortgaging and for new loans."