'Blind eye'

But 16% of people said they were in debt because it had been too easy to borrow money.

About 12% of people said their problems were a result of household bills, while 7% said their debts had mounted up after they missed one or more of their repayments.

Tim Kirby, managing director of The Mortgage Lender, said the suggestion that people were letting debts accumulate to fund their lifestyle was "concerning".

"While borrowing may be cheap at the moment, people will pay the price if they let the debt pile up.

"It is easy to turn a blind eye to your finances, particularly if you are in debt, but ignoring the problem won't solve it.

"However, with careful budgeting and monitoring of bills and repayments, long-term debt can be avoided or stopped before it spirals out of control."