Slightly over 1.5 million people sought help with their debts in 2011, this is up when compared to 2010, according to recent report from the Money Advice Trust.
The figures also reveal that almost 10 million UK individuals are in a constant battle with their debts.
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, while 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."
She added: "It is so important that people are aware of and can access the free debt advice that can make the crucial difference between allowing a difficult situation to spiral into unmanageable debt and regaining control of your finances.
"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."
Are You Struggling With Debt?
If you are one of the millions currently struggling with debt, then contact us now for no obligation debt advice.
