Two out of three consumers believe they have no alternative but to get into debt, the latest Old Mutual Savings and Investment Monitor has found.

“This equals the highest recorded measure for this sentiment during the Savings and Investment Monitor’s history… ,” the company said on Monday.

The sentiment was accompanied by a significant increase in indebtedness, researchers found.

Personal loans from financial services providers rose from 11 percent in November 2011, to 16 percent in July 2012.

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