Many Britons are ignoring their debts and not making payments on their credit card balances, a new survey has revealed.
According to Confused.com, the closure of one in five accounts across the UK by providers was as a result of non-payment, with those in Yorkshire appearing to be the worst at handling these debts.
Joanne Garcia, head of credit cards with the comparison site, observed that it is important for all credit card users to comprehend the damage that can be caused by missing payments.
“Credit providers – which include mortgage lenders – leave no stone unturned when it comes to checking a person’s credit worthiness,” she said, adding that histories of non-payments make it much harder to borrow money.
This comes after David Rodgers of the Debt Advice Foundation made it clear that debt denial is a growing issue throughout the country, with people unwilling to share such concerns with partners, family or friends.
By Sarah Adie