More than a quarter (26%) of women flagged it as a pressure point, compared to 18% of men.
January is the most difficult month of the year financially with 22% of Brits feeling under pressure, research from Equifax company TDX Group has found.
More than a quarter (26%) of women flagged it as a pressure point, compared to 18% of men.
Mortgage payments are people’s third biggest debt concern, mentioned by 9% of people, behind utility bills (11%) and credit cards (20%).
Almost three in 10 (29%) said a mortgage of any size would be unmanageable. This was most common in Wales (38%), compared to just 22% in Yorkshire and Humberside.
Richard Haymes, head of financial difficulties at TDX Group, said: “Year after year, spending pressures over the seasonal period push many to exceed their financial limits.
“Record high levels of personal debt in 2018, combined with so many people saying they find debt unmanageable, make this particularly concerning.”
TDX Group helps businesses manage collections, recoveries, debt sale and personal insolvency.
The average amount of debt people consider unmanageable is £8,854.
Men feel more comfortable borrowing more, on average stating that £9,996 is manageable compared to £7,661 for women.
Haymes added: “Positive trends are developing.
“The increasing regulatory focus on expanding awareness and access to debt advice, such as the government consultations on Statutory Debt Repayment Plans and breathing space for people in debt, should help break down the social stigma around financial difficulties and enable more people to access the help they need.
“This will play a key role in addressing society’s debt problems in the year ahead.”
