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 Many people may get into financial difficulties and find themselves unable to keep up with mortgage repayments in the coming months.
That is according to website Fool, which said that Britons should expect job losses this year.
In a bleak warning to homeowners, the financial website warned that companies will fold and people will be made redundant as the credit crunch rolls on.
Many people may find that they can no longer keep up with mortgage repayments and will get into real financial difficulties.
"Consumers should not dismiss the four per cent rise in company insolvencies as a blip. 3,210 companies went bust between January and March this year, taking the twelve-month running total to over 12,500 businesses," said David Kuo, head of personal finance at Fool.
"Fool urges all employees to ensure they are prepared for the worst, should their employer become insolvent. Businesses can go bust for a number of reasons, though it invariably boils down to a shortage of cash," he added.
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