Britons turn to credit cards and loans to cover basics as cost of living crisis bites

Higher interest rates will plunge borrowers into debt as they seek to plug gap between income and outgoings, charities warn

Growing numbers of households are likely to turn to credit cards and loans to plug the gap between their income and outgoings", as winter sets in and energy bills increase, a leading debt charity has warned.

Higher mortgage payments and rent increases, as well as the rising cost of food and energy bills, could also force householders who have never been in debt before to borrow to make ends meet.