Credit card users ‘need to shop around’

Many thousands of British couples are breaking up because of stress related to debt management problems, recent research has suggested.

Debt counselling charity Christians Against Poverty (Cap) polled its own clients and found that close to a quarter had parted ways with a partner because of difficulties in becoming debt free.

In addition, most of those quizzed said the same kind of problems had been behind arguments with loved ones and almost 70 per cent said their money worries have caused them health concerns.

Furthermore, two-thirds of those that took part in the study said they had gone without food on at least one occasion in order to make repayments on their debts.

“Our latest findings are truly shocking, highlighting the trauma that many families in debt face on a day-to-day basis,” said Matt Barlow, head of Cap in the UK.

British consumers pay out almost £259 million everyday to service the interest on their personal debts, according to figures compiled by Credit Action.