Moira Haynes of the Citizens Advice Bureau (CAB) describes the credit market as “complex”, which can lead to people getting into debt through a lack of understanding.
“It can be difficult to understand the exact details of what they [borrowers] are taking on,” said Ms Haynes. “The credit market has expanded greatly and become very complex.”
The warning comes as politicians and even the Bank of England’s governor publicly state their worries over the levels of debt people are getting themselves into.
But Ms Haynes said that part of the blame lay with lenders, stating that small print could make the details difficult to understand.
“Lenders should make it clear to customers what they are committing to,” she added.
Anyone in credit card debt or in need of debt help should seek professional help before their situation gets any worse.