As the cost of living rises a worrying number of people are turning to credit cards, overdrafts and even payday loans to cope with paying off their monthly bills.
Nearly 14 million people in the UK are using credit to pay household bills, with an estimated £3.6 billion being borrowed every month.
According to the research by Santander, 17% of consumers favour their overdraft to pay their monthly bills, borrowing an average of £264 per household.
Samantha Owens, finance expert at Moneyfacts, said: Consumers should start looking for help when short-term borrowing is used for long-term problems.
"Whilst loans and credit cards are useful in bridging a gap such as an unexpected bill, which can be paid back over the longer term, looking to pay regular bills this way is the beginning of a vicious circle and these debts can soon escalate."
Find the best credit card rates - Compare credit cards
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.