More than six million UK households have been identified as financially vulnerable, according to research commissioned by the Consumer Credit Counselling Service (CCCS).

The Debt and Household Incomes report found that 3.2m households are already in financial difficulty, either three months behind with a debt repayment or are subject to some form of debt action such as insolvency.

A further three million are at risk of financial difficulty because they are finding it hard to make ends meet and are vulnerable to increases in household bills.

Unsuprisingly those on low incomes and with either little or no savings were identified as the most vulnerable and researchers found common issues among this group.

Among these were a risky dependency on credit for low-income households. CCCS clients earning up to £13,500 a year typically had unsecured debts totalling 20% more than their...Read more on this story CLICK HERE