Many loans have been taken out for cars and home improvements.
We're borrowing more money for new cars and home improvements.
Figures from the Banking and Payments Federation Ireland show the number of people taking personal loans is at an all time high.
€539m in personal loans were drawn down in the months between April and June of this year.
Car loans rose by 50% on last year, home improvement loans were up 27%.
Manager at North Midlands Credit Union, Tom Allen, says the amount of money they are giving out on lending is increasing month on month: