Credit cards Updated:
Consumers are beginning to struggle as a result of taking on too much credit card and other debt in the past, it has been observed.A spokesperson for Citizens Advice noted that the availability of credit in the past prompted people to take on more than they could afford in unsecured loans.She explained that credit was previously "easy to come by" and that lenders often did not take account of what a consumer could repay.As a result, drops in income are now "making the debt situation a lot worse", the spokesperson said, adding: "What is concerning us is that we know that a lot of our clients have a substantial amount of consumer credit debt."The results of a recent study by Citizens Advice revealed that credit card and other debt is a mounting problem for many, with the average client owing a total nearing 18 times their monthly household income.
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