The cost of everyday living and the current perilous state of the nation's finance has meant that a reducing amount of Britons are in the position to assist family members if they encounter debt problems it has been revealed.

The research commissioned by the Chelsea Building Society have acknowledged that in light of increasing financial constraints, family members can no longer rely on each other to help relieve them out of a tricky situation.

Darren Stevens, director of customer services at Chelsea Building Society, said: "Whereas previously Britons could rely on their family members to bail them out when they got into difficulty, now when they turn to their families as a last resort they might find that their families are also suffering the pinch."

This revelation comes hot on the heels of the news that experts predict debt consolidation loans are set to become even more popular in the coming year.