Clear Start, the UK Consumer Debt Service, blames the UK’s credit card debt problem on card companies that encourage people to overspend and run up debts on which they are able to charge interest.
February 16, 2006 (Press Release) --
Credit card debt is one of the largest personal debt sectors in the UK and affects an increasing number of people each year. In fact, total credit card debt in December 2005 reached £56.35 billion.
Clear Start, the UK Consumer Debt Service, blames the UK’s credit card debt problem on card companies that encourage people to overspend and run up debts on which they are able to charge interest.
Given that the average interest rate on credit card lending is eleven points above base rate, it is not difficult to see how quickly credit card debts can accumulate.
Clear Start urges people to read the small print before signing up to new credit cards and to only spend what they can afford to re-pay.
If you are already entangled in credit card debt however, all is not lost. Contact the Clear Start free credit card debt helpline on 0800 138 5445 and an impartial advisor will help you clear your debts.
Clear Start, the UK Consumer Debt Service, blames the UK’s credit card debt problem on card companies that encourage people to overspend and run up debts on which they are able to charge interest.
Given that the average interest rate on credit card lending is eleven points above base rate, it is not difficult to see how quickly credit card debts can accumulate.
Clear Start urges people to read the small print before signing up to new credit cards and to only spend what they can afford to re-pay.
If you are already entangled in credit card debt however, all is not lost. Contact the Clear Start free credit card debt helpline on 0800 138 5445 and an impartial advisor will help you clear your debts.
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