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PPI refunds news: One in five struggling with debts

A large number of Britons appear to be in desperate need of a payment protection insurance (PPI) refund, as new figures have shown that one in five are struggling to manage their debt.

According to the Money Advice Trust, around 20 per cent of the UK's adult population are facing a constant battle to keep their arrears under control.

The organisation stated that 1.54 million people sought help from free expert debt advisers in 2011 - up from 1.4 million in 2010.

However, bosses believe this figure will rise sharply again in the first few months of 2012 as up to 2.5 million individuals are said to be in the red.

Chief executive of the Money Advice Trust Joanna Elson said that increased unemployment coupled with rising living costs suggest the outlook for the near future is bleak.

"2011 was a tough financial year for many families across the UK; unfortunately more people are likely to struggle in 2012," she remarked.

The Debt Advice Foundation recently indicated that the number of calls it receives tends to double in January.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801259900-ADNFCR

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