Credit cards and loans - Bank of England

"People really are struggling to stay afloat. Many of those who were on the breadline are now below it and even those on medium incomes are now left with too much month at the end of their money. Inflation and in particular the raise in energy prices has meant that many people are now bring forced to use credit cards and loans just to survive and we know that the situation will only get tougher later this year when the energy cap rises once again in October, together with the ever increasing Bank of England base rate."

"Consumer borrowing is very worrying for the UK's army of temporary workers, who so many businesses are reliant on right now to prop them up, but who could lose their income with no notice, and become unable to make their repayments. It's very risky for them, and also for the thousands of gig economy workers who are on the road delivering our parcels, our takeaways, and often juggling several apps to make a living. Temps and gig workers are already living precariously enough as it is, and some have no option but to borrow in order to make ends meet. But the risks are significant, and they could easily fall into a downwards financial spiral which quickly gets out of control, so lenders have a moral duty to be responsible."

"Far too many people are living beyond their means and at some point, the chickens come home to roost. It's such a sad state of affairs that people are being pushed into this situation from terrible management of our economy for the last 12 years by the Tories."

It's a major concern especially for working families the rise in cost of living and utilities especially without any form of government intervention will see a much larger rise in people having to use credit cards and loans to give them some breathing space and with utilities likely to rise once again in October this is just the start of major problem.