Consumers currently struggling with credit card charges may not be surprised to hear that five million Brits are permanently overdrawn. Research by moneysupermarket.com has revealed that one in ten adults in the UK live in their overdraft and that a third have used overdraft facilities over the past year. Kevin Mountford, head of banking at the price comparison website, said: "Times are extremely tough for UK consumers so it's no surprise to see so many Brits living in their overdrafts. "The recent rises in the cost of living have made the habit of living in the red even harder to break for many consumers and we can expect to see many more people falling back into this position as living costs continue to increase." Findings also showed that the most common overdraft users were those aged between 20 and 29. Of this age group, 46 per cent dip into the red, while 16 per cent never get out of their overdraft.Jennifer HainesJennifer's speciality knowledge is credit card changes and balance transfers.
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