Credit unions have asked the assembly to curb careless borrowing

The organisation said the assembly executive would face a social crisis if action was not taken to tackle the problem.

League president Uel Adair has called on the executive to put a cap on the amount people can borrow.

Mr Adair said people borrowed money without "looking at the bottom line".

"People who are being, what I would say, given the promised land, are being told that if you borrow this particular money, we will always be here for you," he said.

"People who haven't got a lot will seize at any opportunity to actually take that particular money even though they don't look at what the bottom line is.