For Your Protection and Peace of Mind
All our loans & procedures are approved and qualified by our fully experienced compliance team to ensure they meet our high standards and comply with all current regulatory requirements
 News |
|
Search Categories |
| Archive News |
Consumers must be aware of debt warning signs
People across the UK need to take note of the warning signs that can arise from debt problems, according to an expert.
Laura Carver, the helpline manager of Consumer Credit Counselling Service, said that while being unable to repay debts is an obvious sign, there are other issues to watch out for.
She explained: "These signs include only making the minimum payment on your credit cards each month, not knowing the total debt you have, lying to your friends or family about your spending and debt and using credit to repay debt."
She explained that such issues can both put a strain on finances and could have an even bigger impact if a consumer suffers a major change in circumstances.
Research published by Unbiased.co.uk recently highlighted that levels of personal loan debt in the UK have remained constant over the past 12 months.
It added that this has occurred despite banks placing some restraints on consumer lending products.