However, spokesperson Helen Saxon said that there needs to be “safeguards in place” to stop debt getting out of control, which can lead to people having debt management problems.
Ms Saxon added that credit – in the form of people taking on credit card debt or loans – is becoming more available to consumers.
“Credit does enable people to buy things that otherwise they couldn’t afford or that they would have to save up for a long time for,” Ms Saxon said.
“So we have seen credit available to more and more people as time has gone on and we have seen consumer spending pretty much propping up the economy.”
Earlier this week, figures from Alliance & Leicester revealed that 34 per cent of those using loans do so as a debt solution.
The FLA is a body that represents the asset, consumer and motor finance sector in the UK.