Debt-ridden consumers are taking control of their money and facing up to difficult financial times, according to new research.

Statistics from Mintel reveal that one-in-five sub-prime borrowers will be concentrating on improving their credit rating over the coming months.

The sub-prime borrowing bracket includes those registered bankrupt, who have defaulted on mortgage payments or gone into arrears with household bills, rent or council tax.

Mintel said that, within this bracket, 14% have recently checked their credit record, trying to establish just how much trouble they are in.

The figures showed that the vast majority now have an understanding of it, with only 14% believing that they would not have any problems getting a new mortgage.

Toby Clark, senior finance analyst at Mintel, said the figures were the first real indication that borrowers were taking their finances seriously.

"It's clear that sub-prime borrowers are starting to think and act more responsibly when it comes to their money," he said. "If anything positive is to come from all this chaos, it is that people are starting to take more of an interest and pay more attention to their personal finances."

Mintel said that, before the credit crunch, consumers in general were less informed about the financial services market. Research by the firm from the end of 2006 showed that, while 42% of savings account holders felt the interest rate was the most important factor in choosing a savings account, only 26% had even a vague idea of what the interest was on their account.

Some 42% had always held their savings account at the same bank.

Mintel attributes the change in thinking to an increase in financial stories in the media and the problems facing institutions such as Northern Rock.

Research from the start of the year showed 57% of adults said they would think more carefully about where to save and invest as a result of the bank's problems.

Beccy Boden-Wilks, from the National Debt Helpline, said the findings reflected the fact that 83% of helpline callers now feel they are more in control of their finances because of better knowledge.

"Its encouraging to see that people are taking a more active interest in their finances and becoming more financially literate," she said.

"Many people don't understand that the credit system is one of the main reasons why people get into debt."