Many people throughout the UK are concerned that they have not got enough cash set aside in their savings accounts, making them at risk of falling into debt.

New figures from R3, the insolvency trade body, show that seven per cent more people believe debt is a source of concern compared to the same period of last year.

Credit card debt is a worry for 53 per cent of individuals, which marks a five per cent rise on the last quarter.

Other worries include the repayment of loans, hire purchase, store cards and mortgage repayments.

R3 president Frances Coulson commented: "Households that are already struggling may find traditional lenders unwilling to provide further credit and are therefore drawn to short-term credit solutions."

Additional figures show that 27 per cent of people now put less away in savings accounts than they usually do, compared to 24 per cent in July 2010 and 32 per cent in April this year.