Britons took on 62p of debt for every pound they saved during the final three-month period of 2009, research by Unbiased.co.uk has revealed.

The findings paint a picture of rising borrowing levels and a sharp decline in savings amongst Brits, suggesting people are becoming more confident – but less cautious – when it comes to borrowing.

An IVA expert for the IVA Forum commented: “Before someone takes on a debt of any kind, it’s extremely important that they think carefully about how they’re going to repay it.”