DEBT levels remain a real concern for almost half of the region’s population, a snapshot survey claims.

The findings from insolvency trade body R3, which represents insolvency professionals, showed that 47 per cent of those surveyed in the North-East and Yorkshire were concerned about how much they owed.

However this had fallen by eight per cent from when the same question was asked 12 months ago.

Credit card repayments were the biggest cause of concern, with 60 per cent citing these as a worry.

Forty seven per cent of regional respondents to the R3 survey also said they “sometimes or often struggle” to make their money last until payday.

Allan Kelly, chair of R3 in the North-East and a restructuring partner with Baker Tilly North East, said: "While conditions in the wider economy are clearly more stable and encouraging than this time last year and indeed at any time since the economic crisis began there's still a long way to go before this increased confidence translates into the personal finances of people across the North-East.

“Inflation has fallen to record low levels in recent months, with fuel price falls being at the forefront of the reasons for this, but the cost of living is clearly still challenging for many.”

He added: “Keeping a close watch on your finances, putting something by whenever you can and getting professional advice on how to start putting things right if you feel your debt levels are getting out of control remains the best course of action for managing your money sensibly in difficult circumstances.”