THE average debt held by people seeking help with their finances has risen by more than 20 per cent over the last few months.

The UK Personal Debt Index (PDI) showed the average unsecured debt in Bolton had increased by 20.5 per cent to £16,613.

This is against a national increase of 35.8 per cent.

Pearse Flynn, CEO of Creditfix, which carries out the research, said: "It’s a really worrying sign that the level of personal unsecured debt is increasing, especially for those people nearing retirement age."

Unsecured debt refers to any debt that is not protected by a guarantor or asset including bank loans, credit cards and payday loans.

The PDI is compiled quarterly by Creditfix, the UK’s largest insolvency practice, following a survey of individuals across the country.

For more information on the report, go to creditfix.co.uk