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Consumers in Britain added an extra £10.4 billion of debt during June, new Bank of England data indicates.
This increase in lending is £671 million more than the rise seen during the same month in 2006, the report reveals, as households try to balance debt management with increasing expenses.
Additionally, it was shown that Britons reversed the recent trend of paying more on their credit cards than they spend, as they struggle to get out of debt.
During June, consumers put £160 million more on their credit cards, which may suggest that the recent interest rate rises have interfered with people`s ability to manage their personal finances, such as domestic bills.
Ben Yearsley of independent adviser Hargreaves Lansdown commented on the possibility of another hike, telling the Mirror: "Each rise seems small, but collectively they are starting to take their toll.
"Another one could see many people facing serious problems. The Bank should hold fire."
