Property News · January 11, 2017

'It's a financial cliff edge': how Britain fell back in love with credit cards


Consumers are partying like it’s 2007 when it comes to credit. So how did we get to back to living on the never-never? • ‘Debt is like fire’: Marin Lewis’s tips for managing your cardsFor more than half a million Britons, January provides the mother of financial hangovers. The darkness of the days is compounded by the need to trawl the internet to find a new home for credit card debts swollen by the Christmas spending orgy.For some it is an annual ritual that keeps their share of a £192bn unsecured consumer credit mountain ticking over and out of sight. But last week, alarm bells started ringing as official figures showed consumers racking up debt at a rate not seen since the spending frenzy that preceded the 2008 financial crisis. Continue reading…

Source : theguardian.com
Read more…‘It’s a financial cliff edge’: how Britain fell back in love with credit cards

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