Debt management services and plans are more important than ever now according to financial counselors Debt Matters.
The group have reported that more people are experiencing debt denial, whereby they hide from their financial problems by ignoring phone calls and bills which can end up plunging them further into trouble.
A spokesman for the 1 Stop Finance Shop commented on the situation: "These people live with the fear that others will find out their secret. They hide their bills, deny their identity to companies who phone, and keeps their debt problems secret. Unfortunately, these people also refuse to seek help, deny openly that they have a problem, and never stop spending."