Struggling Britons spend three fifths of their working week earning the money needed to pay off their debts, new research suggests.

The average person in debt has to work until 4pm on Wednesday each week to repay just their unsecured debts. Only then do they begin to earn the cash needed to cover the cost of their basic living costs.

The new figures from the debt charity Consumer Credit Counselling Service highlights the pressure facing households to meet rising living costs while at the same time paying off their debts.

The average person contacting the charity last year owed £22,500 on credit cards, personal loans, overdrafts and other types of unsecured debts.

Their repayments each month were £675, the equivalent of 58 per cent of their typical earnings of £1,170 after tax.

It comes after official figures showed last month an increase in the cost of living, with the Consumer Prices Index jumping to 4.5 per cent, up from 4 per cent the previous month. It is now at the highest level since October....Click HERE to read more