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Thomas Charles, a personal debt and insolvency solutions company, has claimed that there has been little improvement in the attitudes of borrowers when dealing with their finances.
Furthermore, younger people have been singled out by the company as having a more care-free approach to money matters.
James Falla, director of Thomas Charles, commented: "I think especially with young people they feel that they have nothing to lose because in the end they can just declare themselves insolvent."
He added that people should only borrow what they can afford to repay, while those intending to take out a personal loan should "do research" into the best methods of borrowing.
Last month, price comparison website uSwitch.com revealed that even people who are trying to be responsible with their debts do not manage to close them.
The company's director of personal finance, Nick White, claimed that some people are continuing to "spend regardless".