The days of Mum or Dad handing out pocket money to clamouring offspring are - or should be - long gone by the time that the kids are in their twenties and thirties.

Yet increasingly it is true that children are helping out their cash-strapped parents, as old debts are called in and Mum or Dad feel the continuing pinch from the recession.  Debt assistance from earning offspring is now a necessity for many of Britain's parents.

According to research from Scottish Widows, eight percent of adult children are handing over money to their parents.

Iain McGowan, savings expert at Scottish Widows, commented: "Parents are feeling the pinch and therefore the Bank of Mum and Dad has decided to call in its debts."

Over 30 percent of those parents who are receiving payments from their children are then using that money to help pay debts themselves.

And recent research by The Children's Mutual revealed that over 15 percent of parents expect their children to be financially dependent on them by the time that their children are 30.

If you are having trouble with effective debt management, whether you are a parent or still only a child, contact Escape Debt to find out how we can help your to eliminate debt and get back on your feet.