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More than 3 million households in the UK are suffering from financial difficulties and a further 3 million are financially vulnerable. This is the findings of research carried out by the Consumer Credit Counselling Service (CCCS).

The research showed that as many as 3.2 million households are either three months behind with a debt repayment or are subject to some form of debt action such as insolvency.

Lord Stevenson, chairman of the CCCS said 'These figures confirm our fears that troubled times lie ahead for many people in the UK. This report shows the pain is going to spread wider and affect many more people than many commentators have previously assumed.' 

In response chief executive of the Resolution Foundation, Gavin Kelly said 'Many people who scraped through the recession are going to find the next few years even harder. It is very likely that there will be a significant rise in the number of households struggling to maintain their debt repayments, which is a major concern both for them and the wider economy.'