East Londoners have been ranked as the most indebted people in the UK, according to a credit reference agency.

People living in ‘E’ postcodes such as Walthamstow, Leyton and Leytonstone, are ranked by the survey having the worst debt status in the country.

Credit reference agency Callcredit based their results on an evaluation of census data, age, property class, income, and debt and payment performance data.

It assessed the debt status of 124 UK regions, ranking E1 as the worst, followed by Uxbridge, South East London and Liverpool.

This bleak debt map follows reports that London will suffer a higher net percentage of job losses in the recession than the rest of England.

Recent Land Registry figures have also indicated that house prices have fallen more sharply in Waltham Forest than anywhere else in London.

Head of Callcredit Owen Roberts said: "The GeoDebt map paints a vivid picture of indebtedness across the country, with consumers borrowing more and more to stay afloat.

“With many unable to raise additional capital through remortgaging due to falling house prices, and daily expenses continuing to rise, some individuals will be struggling to pay back loans and credit cards taken out over 12 months ago.

"Consumers can take the first step in managing their financial situation by checking their credit report to gain a full understanding of their financial situation."

The top ten most indebted postal areas were ranked as: London E, Uxbridge, London SE, Liverpool, Motherwell, Ilford, Sunderland, London N, Romford and Birmingham The postal areas with the lowest debt ratings were ranked as: London EC, Dorchester, Salisbury, London WC, Bournemouth, Bath, Taunton, Guernsey, Oxford, Exeter