The charity is warning of a far larger latent demand for help, as figures also show around 10 individuals in the UK (around 20% of the adult population) find themselves in a “constant struggle” to manage their debts.
Beyond that an estimated 2.5m individuals in the UK are in arrears on at least one consumer credit product, household bill or payment.
The research carried out by the University of Nottingham for the Money Advice Trust predicts a sharp rise in demand for advice on debts in the first half of this year, mostly down to growing unemployment and stagnating wage growth.
Joanna Elson OBE, chief executive of the Money Advice Trust, said: "2011 was a tough financial year for many families across the UK; unfortunately more people are likely to struggle in 2012.
“With unemployment rising and wage growth relatively flat, whilst prices are going up, it's going to take a greater proportion of household income to heat your home, put food on your table and petrol in your car.
“In short, day-to-day living will take up more and more of your money, which can make it hard to pay the bills.”
Elson added that it was important people recognise a financial difficulty quickly and be proactive in getting the help they need.
She added: “Our research shows people are going to extreme lengths to get on top of their finances, with some selling treasured items, such as jewellery, cars and even pets, just to make ends meet.
“But far too few people do the one thing that stands the best chance of making a real difference, and that is seeking free, independent advice."
