Abacus Daily Debt News

Couples ‘worried about credit crunch’

Many UK adults are worried they may not be able to survive financially if they lose their jobs as a result of the financial downturn, new research has suggested.

According to a study by Callcredit, nearly one in five couples (17 per cent) would be unable to get by for beyond a month if one of them was to remain unemployed and over a quarter (26 per cent) have no savings to fall back on.

Women aged 25 to 34 are the most concerned about the impacts of the economic slump, with 41 per cent of females in this age range worrying that their partner may be made redundant this year.

Head of callcreditcheck.co.uk Owen Roberts urged consumers to seek help if they are struggling financially.

"Our advice to anyone who is struggling with debt repayments … is to speak with their lenders before things become unmanageable," he stated.

The research follows a similar study by Equifax, which found that 31 per cent of its customers would find themselves in financial difficulty within one month if they were to lose their job.

By Tom Musk