Debt problems heightened by reliance on credit?

Britons are increasingly at risk of debt difficulties as a result of growing dependence on credit and store cards, it has been suggested.

According to comparison website IVA.com, since the start of 2010, there has been a climb of nearly 75 per cent in the number of enquiries from those struggling with debt management.

“A constant lament is the unstoppable growth of their credit card debts,” director of the company Terry Balfour remarked.

He went on to observe that store cards are also an issue, with women being the primary sufferers.

“I would say that almost all the female callers we speak to have maxed up on store cards,” Mr Balfour continued, adding that such forms of credit are certain to exacerbate debt problems.

Meanwhile, UK consumers appear to be furthering their credit card debts by using this form of payment for everyday purchases, a Post Office report recently revealed.

According to the study, over 12 million adults are utilising credit in this way.

By Sarah Adie

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