One in eight Britons are falling behind with their bills as they struggle to cope with the rising cost of living.

Sharp increases in energy and food prices mean household budgets are being stretched to breaking point, leaving six million people unable to pay their bills on time.

The figure has more than doubled since last summer, from 5 per cent to 12 per cent today. It means many are turning to debt to cover the shortfall in their household incomes.

A total of eight million Britons will use their overdraft this month, an increase from 11 per cent to 16 per cent since last July, according to the survey by insolvency group R3.

Frances Coulson, R3 President, said: “These figures make for worrying reading. It is clear that many have found themselves in a position whereby they have to go into and often exceed their agreed overdraft in order to keep on top of their bills and debt repayments. Unfortunately, more often than not this leads to bank charges, which further deplete the amount available for bills. It’s a catch-22 situation which can result in........Click HERE to read more