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Many UK consumers 'appear dependent on credit'
The UK appears to be a nation which is dependent on credit, an expert has suggested, which may interest consumers who are seeking bad credit loans.
Credit Action director Chris Tapp feels that the use of credit products has become a normal part of life for some people.
He stated: "Using a credit card to make purchases has become so much a part of their everyday lives that they are dependent on it to get by."
The expert went on to say that this situation "is massively worrying".
Despite the recent financial turbulence witnessed in the UK, the attitudes towards money that some people have adopted do not seem to have changed a great deal, Mr Tapp added.
Figures published by the Bank of England last week suggested that a £100 million rise in credit card lending was witnessed during the month of June.
However, a £200 million decrease was reported in relation to other loans.