Research carried out by Equifax, commissioned by the Money Advice Trust, showed that three-fifths of Britons under monetary pressures are failing to seek help with their problems. The survey, which was conducted in January, also showed that of the 644 people questioned, some 125 currently have money problems.

In addition, the study showed that some Britons are unaware that there are a number of debt advice services which are free to use. Joanna Elson, chief executive for the Money Advice Trust, stated the survey's findings are "extremely worrying". She went on to report that getting in touch with a money advisory service as soon as possible will provide consumers with the widest range of options in terms of getting back on their financial feet. Taking the time to get such advice, Ms Elson claimed, means that people should discover that something can always be done to help them to get to grips with their money management.

She asserted: "We are keen to know why some people are not accessing free advice services who would clearly benefit from them. Is it simply that people do not know free services exist - are people paying for advice when they do not need to?"

Now the firm is to carry out a study investigating what the opinions of those consumers struggling with their finances are in regards to both free-to-use and fee-charging debt advice services. The trust's findings are due to be published later this year.

Upon seeking out guidance on money matters it may be possible that consumers find themselves in a more manageable position in which to meet demands for payment on utility bills, loans and credit and store cards. Such help could also be of assistance to those developing difficulties with mortgage or rent costs.

Neil Munroe, external affairs director for the online credit information provider, said: "A large number of respondents thought that you had to be on a low income to qualify for free advice. This seems to suggest that there is still a stigma attached to admitting you are in financial difficulty and people feel uncomfortable talking about their financial problems. However, the quicker people act and seek help from debt advice services, they can make the situation a lot less stressful and easier to manage."

Upon seeking help with money, those consumers looking to get to grips with their finances however may wish to take out a cheap consolidation loan. In applying for this type of loan, borrowers may find that they are able to merge a number of demands on their spending into a single low-cost repayment. Following this, it is possible people may have more money spare each month - cash which could them go towards repaying debts and getting out the red quicker.

Indeed, a debt consolidation loan might be helpful for increasing numbers of consumers after a recent Citizens Advice study showed over 57,000 people developed arrears on mortgages and secured loans last year, an 11 per cent increase from 2006. Sue Edwards, head of consumer policy, stated it is imperative such Britons seek help with their finances.