Growing numbers of Brits ‘struggling to cope financially’

Posted 03/07/2011

More Brits could be looking for insolvency advice from a professional lawyer given figures recently released by one organisation.

The latest MoneyMood Survey from Legal & General has revealed 1.3 million households in the UK are worse off financially than they were nine months ago.

Many respondents explained they are now left with less cash after paying bills than they used to be.

Indeed, at the end of June, only four out of ten said they had money left over after dealing with regular outgoings.

As a result, the company claimed a significant number of Brits are on a “fine line” between coping and sinking into debt.

Mark Gregory, Legal & General executive director of savings, said: “Persistently high inflation, higher fuel prices and rising food bills are clearly taking a toll on UK households.”

These findings echo those of the Asda Home Tracker, which recently showed high levels of inflation – which stood at 4.5 per cent in May – are putting many households under pressure.

The team at Ashtons Legal can offer professional advice to anyone facing the prospect of insolvency.