According to Alliance and Leicester, the under 30 age group are most in need of help and advice when it comes to debt, and many turn to consolidation loans to ease the financial struggle.
Figures show that the under 30's have average unsecured debts of £5,863, which is nearly 30 per cent higher than the overall national average.
A spokesperson for Alliance and Leicester commented: “The early 30s are a transitional age where careers are taking off and before family responsibilities kick in. Many are buying their first homes at this point, but are also enjoying rapidly rising salaries and are keen to enjoy life to the full. Some, particularly those not trying to get on the housing ladder, may find themselves in financial difficulty as a result of living beyond their means.”