Consumers have been warned that overspending can be a "slippery slope" to bankruptcy.

Personal finance writer Cliff D'Arcy stated that people who do not attempt to curb their expenditure will simply build up credit card bills and accumulate interest, fees and fines.

"When you start seeing your credit card limit as a target, that's another problem," he said. "Eventually you spiral to the situation where you are forking out a major part of your income each month, just on servicing debt."

People who find it difficult to control their spending and end up not being able to meet their credit card repayments will end up with a poor credit history, he warned.

However, the worst possible scenario would be insolvency or bankruptcy, Mr D'Arcy concluded.

Money education charity Credit Action reports that UK personal debt reached £1,430 billion at the end of March, an 8.7 per cent increase during the previous 12 months.

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