Matt Dronfield, managing director of Debt Free Advice – a coalition of charities which can negotiate with creditors on behalf of borrowers – said rent or mortgage arrears, council tax and falling behind on utility bills were the three most common forms of debt.
He said many callers were juggling multiple jobs, but unable to cover their essential expenses.
“It is so common. If you’re not worried, then a friend or family member is definitely going to be,” he said.
“We know you are more likely to tell your pet than your partner or loved one about your financial situation. So, speak to an expert debt adviser about the situation that you are in.
“If you were worried about your health, you’d see a doctor. If you’re car wasn’t working, you’d go to a mechanic. So, if you are worried about your finances, speak to an independent debt adviser, for free.”
He also said that people with no savings should consider “paying yourself first”, by putting a few pounds into a savings account when their receive their income.
This could help get them into a savings habit, while still being able to cover the priority bills.
The average amount people have saved is £5,000 to £6,000, the FCA’s report suggests.
