Women more likely to be in serious debt than men

Women are almost twice as likely to find themselves in serious debt than men, according to new figures. 

A new study, conducted by the Money Advice Service (MAS), has indicated that roughly 8.8 million Brits are at least three months behind on their monthly bills and that almost two thirds (64 per cent) of them are women. 

Exactly three quarters of those in serious debt are under 45 years old, whilst one in five were part of a benefit-dependent family. 

Hull, Nottingham, Manchester, Knowsley and Liverpool were named as the five regions with the most debt-ridden residents. In all five of these areas, more than 40 per cent of residents are at least three months behind on their bills.

Worryingly, channel4.com reports that only one in six indebted Brits is seeking independent advice to help them deal with this problem.  

In an interview with itv.com, MAS chief executive Caroline Rookes argued that this was the most concerning figure to have emerged from the body's research.

She said: “Millions of people could escape their spiral of debt by accessing free advice. However, this study presents us with a fundamental challenge: the majority of people with debt difficulties do not seek advice.”