Most people struggling with crippling debt often do not seek help in time, waiting until up to 50 per cent of their income is needed for repayment, it has been revealed.

According to debt advice group Payplan, the average person that gets help faces a shortfall of about £693 in their monthly budget before tackling the problem.

Following findings of a research in which more than 100,000 of its customers featured, it said the average persons that contacted it faced monthly debt repayments of £901.40.

They also had total outgoings of £2,361 even though their average income was £1,668.

The study found that pensioners, due to debt repayments, had the biggest gap between their income and their expenditure.

Those aged over 60 faced a monthly shortfall of £724, it further revealed.

Managing director of Payplan, John Fairhurst said that their survey showed that debtors in the UK wait too long before seeking the help of professionals in dealing with their debt problem.