The despair caused by being in debt makes 30% of Britons with severe financial difficulties consider self-harming, or even committing suicide, shocking new figures reveal.

Meanwhile, a quarter turn to alcohol or drugs to escape their problems, and around a fifth feel driven to illegal activities such as theft and even prostitution.

Nearly seven in 10 Britons hide financial difficulties from their bank or building society – even if they experience a sudden money shock that dramatically changes their situation.

Meanwhile, 37% of adults take no action to adjust to their changed circumstances when they come under financial pressure. Perhaps that's why the latest figures from the Bank of England show that banks "wrote off" customer debts of about £40 million a day between April and June?

Debt management companies that charge a fee for their services should find it harder to mislead indebted consumers by advertising "free" help from today.

New rules from the Advertising Standards Authority (ASA) state that companies can no longer describe a product or service as "free" or "without charge" if it involves any costs other than postage and packing, for example.

Millions of Britons tightened their belts during the recession, with spending on everything from holidays to groceries taking a hit.

But while we were prepared to cut certain corners to ease the financial pressure, some of life's little luxuries – including expensive haircuts and premium pet food – proved impossible for many to give up.

More than four in 10 Britons feel worse off now than they did this time last year, according to new research from price comparison website Gocompare.

The findings indicate that the global economic downturn is still taking its toll, despite signs that the UK recession is now over and the overall situation at an economic level is starting to improve.