Workers are having to use their overdraft earlier than previously each month, in order to tide them over until payday, according to a study by Opinion Research.

Their research showed that an increasing number of workers are having to resort to their overdraft each month, only 20 days after being paid.

These results showed that people were using overdrafts a full week earlier than a previous YouGov study had found, which highlights the difficulties that many people are facing in the current climate.

Results also showed that more than half of the population (53 per cent) had been in the red on at least one occasion in the past 12 months.

Worryingly, 17 per cent of those polled have consistently fallen into debt after going beyond their current agreed overdraft limits – an increase of seven percentage points on 2007.

People who are struggling with their overdrafts, personal loans and credit card debts should contact an impartial company like Chiltern, Hamilton Locke or The Debt People sooner rather than later.

These organisations can help relieve finances and prevent debt problems from escalating. In most cases bankruptcy can be avoided by using one of their professional debt solutions – as outstanding balances can be rescheduled to more affordable levels.

To speak to someone and receive FREE and impartial debt advice, please call the number at the top of this page. Alternatively, click on this link for information on all of our professional debt solutions.