In the CPP survey, about 50% of people said they had debts they feared they would not be able to repay in the coming months, rising to 65% among people aged between 25 and 34.

BBC: Alarm bells ring for house buyers

The news comes as the credit ratings agency Moody's Investors Service said the recent falls in Railtrack's share price would not lead to its debts being downgraded.

BBC: 'Renationalise' say Railtrack investors

Vetter suggested that bankruptcy would allow GM to make significant changes faster, because a judge could void labor and supplier contracts, debts could be restructured, and Congress would not be involved.

CNN: Bailout has doubters at tavern near thriving car plant