Seeking the right help is key for Londoners in financial pain

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There are the well-off affluent lot who have helped make average earnings much higher than the rest of the country.

And then there are the financially vulnerable folk, facing debt disaster daily.

In fact one in 10 families in London is now facing being over-run by charges and interest on loans and credit, according to research commissioned by debt charity the Consumer Credit Counselling Service.

More than 257,000 households in the capital - 9.7% - are spending more than half of their income on repaying secured and unsecured debt.

That's the highest proportion in Great Britain. In fact, according to debt-to-income figures prepared by the Financial Inclusion Centre, London districts account for seven out of the worst 10 postcodes in the country.

This is not a problem that's going to go away. If anyone is spending a high proportion of their cash on repaying debt, then they are close to a financial meltdown.

For many, the repayments may not cover the growing interest on their debts, meaning that very soon they could run out of financial room and be unable to meet their monthly commitments.

They can then become easy prey for unscrupulous loan sharks which tempt them in with the promise of easy money to tide them over.

But once caught in the clutches of these vultures, things will only get worse.

Typically the sharks encourage vulnerable people to borrow greater and greater amounts in an attempt to keep out of debt disaster. But that attempt is bound to fail.

For those who are in debt trouble the answer, instead, is to stop borrowing and seek help.

There's free advice at local Citizens Advice Bureaux or from the Consumer Credit Counselling Service on 0800 138 1111, National Debtline on 0808 808 4000 or Payplan on 0800 2802 816.