The percentage of the average consumer's income which can be used to service their debts has decreased, according to new statistics.

Figures published as part of the Chiltern Debt Monitor show that there has been no change in the amount the typical Briton is contractually obliged to pay to creditors.

But the percentage of their income which is available to use in servicing debts has fallen to 17 per cent.

This represents a one per cent decrease from previous statistics - and is indicative of the tightening credit conditions faced by many consumers.

As a result, many individuals could find they are less able to service demands on borrowing such as debt consolidation loans.

"Debt is a source of constant stress for many families as they juggle their credit commitments to maintain their minimum payments," comments Chiltern's Joanne Gill.

Conversely, debt consolidation loans could prove a way out of an affordability crisis by reducing monthly repayments.

The Personal Finance Education Group recently asserted that the high costs of university and the house-buying process have resulted in many Britons viewing debt as an everyday occurrence.ADNFCR-1287-ID-18375836-ADNFCR

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