Helen Ainsworth, a Which? spokeswoman, said that it is simple to obtain such an interst-free deal but if people are not aware of the conditions, they could soon fall deep into debt or even get a County Court Judgment (CCJ).
“These deals are often sold very simply and easily to people because all you need to get an interest free credit arrangement is a bank account, which everyone has,” Ms Ainsworth said.
“You have to be careful – you have signed up to it and if you can’t repay it then you are in a lot of trouble. You will find yourself facing County Court Judgments and might find the bailiffs coming round.”
Her warning comes as official figures show a massive rise in the amount of insolvencies as more people take out an Individual Voluntary Arrangement (IVA) or declare themselves bankrupt.
Ms Ainsworth urged anyone signing up to any kind of financial agreement to read the small print to ensure that a credit deal does not end up pushing them into debt.