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Credit card holders warned over debt
Consumers with credit cards have been urged by a financial expert to keep tabs on their debt.
A spokesperson for Moneyfacts.co.uk suggested that it is always important for card holders to consider if they can keep up with their repayments, particularly in the event of a rate increase.
In comments which may interest those aiming to use debt consolidation, she said people should always look to make more than just the minimum monthly repayment.
"The risk of unemployment is still high for many and credit card debt is always the first out of all debts which a person will default on, therefore providers are still cautious as to who they lend to," she explained.
Comments on the issue have come after research by Credit Action revealed that UK banks and building societies wrote off £9.6 billion of loans to individuals over the 12 months to the end of the first quarter of 2010.