A major public body has warned that the number of people seeking out debt management advice has soared in the last twelve months, which reflects the worsening personal finances across the nation.

The Citizens Advice Bureau said that millions of people across the country had reached near “breaking point” in regards their finances and that the rise in unemployment was exacerbating people’s sense of dread.

The CAB said that they had seen a 179% rise in enquiries about debt and unemployment in the last year and had also seen a substantial jump in the number of people who were worried about personal loans and mortgage payments.

"The downturn in the economy has led to a rise in the number of people who have seen a downturn in their own individual personal finances and therefore they are struggling to get by day to day. This is why more people are getting to breaking point where they need to pick up the phone and talk to somebody about it,” said Chris Tapp from debt charity Credit Action.