It says that around 30% of people fear they will be unable to meet repayment commitments on personal debts including mortgages, loans and credit cards.
Half of them – 15% – believe they would only last a month.
Despite the worries of rising unemployment in 2009 as the economic recession continues to threaten jobs, the research reveals low levels of take-up of payment protection insurance which will cover repayments in the event of unemployment.
Just 26% of people with personal loans have PPI while 37% of those with mortgages are covered. Only 16% of credit card customers are insured.
MoneyExpert.com believes criticism of PPI in investigations of the industry by the Competition Commission and the poor reputation of some providers in not paying out claims have led to a low take-up.
But its research shows that the average amounts owed on loans and credit cards are not trivial – the average card customer owes £2,007 while on personal loans it is £9,465.
Sean Gardner, director of MoneyExpert.com, says: “The financial services industry is partly to blame for giving payment protection insurance a bad name.
“But there are good deals out there with signs that some providers are offering much improved products.
“Unsurprisingly some lenders may be more nervous to offer credit if the borrower has no protection in place.”