Charity Capitalise, has revealed that more Lambeth residents are spiralling deep into the debt hole and could turn to loan sharks for financial support and to avoid bailiffs.

Lambeth is one of the worst personal-debt affected boroughs in London, where the average resident seeks help trying to cope with £13,105 of debt on a monthly income of just £902.

Capitalise stated that the debt in this region was much deeper, extreme and more widespread since the financial downturn began, a situation made worse by aggressive repayment creditors.

The warning comes after the group urged Lambeth residents to not seek out the aid of loan sharks for a quick fix.

Graham Fisher, CEO of Toynbee Hall, the charity leading the Capitalise partnership, said an integrated approach was needed between local and central government and the voluntary sector to protect residents.