Debt management companies up and down the UK are bracing themselves for increased business on the back off a further hike in the base rate from the Bank of England.
Now standing at 5.5% which represents the highest it has been since 2001, the inflated rate is set to push some people to the limit - with increased repayments on property the main concern.
Many debt management companies are rubbing their hands together in anticipation of a great surge of applications for help in the coming months on the back of this announcement.