Expert urges responsible borrowing

Mr Bowerman suggests that searching out the most suitable credit card deal available could save consumers money and help them avoid the need for a debt solution.

With the number of people opting to enter into an Individual Voluntary Arrangement (IVA) to solve their debt problems increasing around the country, the finance expert has highlighted the importance of product awareness when it comes to making financial choices.

“It’s about the consumer being more responsible and actually taking the time to step back and make sure that they’re using their product in the way that it is designed and that they have a product that best suits the way that they use their card,” said Mr Bowerman.

The Insolvency Service revealed earlier this month that the number of people entering into an IVA during the first three months of this year had risen by almost 24 per cent in comparison with the same period of 2006.

track