The total amount of unsecured loans borrowing taken out in the UK has increased in recent months, it has been claimed.
Financial services provider the Fair Investment Company reveals that unsecured loans, credit card debt and car finance deals accounted for £5,886 per person in the UK at the end of August.
This stands at about 30 per cent more than the £4,524 average personal debt among British adults at the same point in 2007.
Matt Edwards, spokesperson for the Fair Investment Company, says: "As people contend with rising fuel and food costs, it is no surprise that they have to borrow more.
"However, the downside of this will be the interest rates that could soon eat into people's pockets."
Unsecured loans now stand at an average of £3,810 per person - almost 65 per cent of the total.
The Fair Investment Company recently recommended that Britons might like to keep a sum of money to one side in order to meet any unexpected costs that could otherwise obstruct their affordability.
JST Financial Unsecured Personal loan Specialists catering for good and adverse credit for tenants and homeowners.