The UK is split into two groups - those who earn very high wages and those whose pay is not high enough, one charity observes.

Chris Tapp, director of Credit Action, remarks that as income has escalated in the City in recent years, many Britons have seen their wages rise at a rate below that of inflation.

This has created a wage divide that could see some consumers struggling to maintain their lifestyles while others enjoy a wealth boom, he claims.

For professionals such as lawyers, bankers, hedge fund managers and people involved with private equity release, "wages have just exploded", Mr Tapp maintains.

However, he adds that rising utility bills look set to increase the pressure on less well-off households further.

"For a lot of people in recent years and still now, the rate at which their wages are going up is substantially slower than that of the cost of living," the charity director claims.

Debt consolidation loans have been described by price comparison site uSwitch.com as one feasible route out of debt.
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