Sixty per cent of respondents claimed that they wouldn't worry about their debts, even if they were to lose their jobs. The threat of debt collectors knocking at the door would only cause concern for a third (35 per cent) of Brits, while two in three (66 per cent) said they would not be concerned if they were in too much debt to pay their gas and electricity bills.
Worryingly, only 17 per cent would be worried if their friends and family fell out with them over the money they owed them.
Less than half (43 per cent) of those with debt would be concerned if they couldn't pay their mortgage or rent, meaning 57 per cent of those with debt would not suffer from sleepless nights if they missed a mortgage or rent payment.
Those missing two or more loan or credit card repayments seem the least worried, with only 15 per cent saying this would worry them, despite the dire consequences of doing so.
Tim Moss, head of loans and debt at moneysupermarket.com, said:
"Many people are being pushed to breaking point by the spiraling cost of living and the ongoing effects of the credit crunch but, as our research shows, people do need to be aware of their own financial circumstances and not bury their heads in the sand.
"Missing a payment, whether to a credit card, mortgage or utility provider, can mean serious trouble; not only will consumers increase their overall debt levels, but their chances of obtaining the best credit products in the future will be severely reduced.
"The era of debt-financed consumer spending is over, so people will need to take extra time to manage their finances and consider lowering their monthly outgoings. Consumers should ask themselves if they really need a new car, the latest Sky package or those new shoes.
"Debt consolidation is another way of managing multiple debts, however those people who consolidate their debts need to be extremely disciplined and resist the urge to borrow anything further.
"At a time when there is the high likelihood that we will see a squeeze on public sector jobs, people should be preparing themselves to help cope should the worst happen. Although the majority of people manage to cope with their debts when times are good, a sudden change in circumstances, such as losing your job, can lead to a spiral which is difficult to get out of.
"One way to reduce the impact is to have at least three months of outgoings in savings which you can call upon if needs be. If you are in financial difficulty, then consider approaching one of the free debt advice charities services such as CCCS or Citizens Advice for help."
