I don't think that was Labour.

Personal debt has risen £3.3billion in January to the extent that the consumers in the UK owe about £1.4 trillion.

Express.

HOW LABOUR LEFT US ALL OVER A TRILLION IN DEBT

BRITONS now owe £1.4trillion in personal debt – more than the country produced over the past year.

Total lending in January rose by £3.3billion, including a rise of £1.8billion in secured lending.

After more than a decade under Labour, the average UK household is now £8,416 in debt, not including mortgages and unsecured loans.

When mortgages are included, the figure is £57,635, the charity, Credit Action, said yesterday.

Debts led to 337 people being declared bankrupt or insolvent every day, the figures revealed.

Property repossessions reached 87 each day. Meanwhile, each day last year 474 new people had been unemployed for over 12 months.

Redundancies hit 1,589 people every day in the three months to the end of December. And debt is continuing to grow with 24.1 million credit card purchases daily, with a total value of £1.15billion.

Now I blame Labour incompetence for a lot of things from the pensions grab, the gold sell off, the green energy scam to underfunding the army. But I don't see how they can be to blame because people were silly enough to get themselves in over their heads in personal debt. Sure they made cheap credit available via their economics, but they didn't make people take out credit on anything, though they didn't help the economic conditions in which people have ended up out of work.
No this is down to personal choice, though many people will no doubt be coping or struggling, that's one of the risks of ramping up your debts whilst the going is good and often enough you can take out insurance which will help a little in hard times, though it's often only for 6 months, after that you're facing bankruptcy.
Even bankruptcy is nothing to be really feared any more, yes it blights your credit records, but you can recover if you keep your head down and simply save up and spend what you earn rather than buy things on credit. Plus there are often enough ways around getting stuff you really need if anything important breaks. About all that will happen is that credit will be a lot harder to get and more restrictions will be put on it, but that's the fault of going mad on spending money that wasn't really theirs, or at least those who are stuck with debts they can't pay back and who will have made it more difficult for others to get a loan or a credit card.

So no, on this the Express is wrong, Labour might have set up the conditions where cheap credit was on offer, but they didn't make people borrow, that was purely down to the people themselves.