Consumers have been advised to ensure they can afford repayments before taking out unsecured loans.
According to the Consumer Credit Counselling Service, the current economic climate is likely to lead to a rise in loan applications.
But spokesman for the charity Tom Howard noted that lenders are not guaranteed to grant these and therefore they should not be relied on.
And he added: "People are approaching and tackling the credit crunch in the right way, by being thrifty, recognising overspending and cutting back on any past excesses and unnecessary luxuries."
The Bank of England recently found that credit is becoming less widely available due to lenders' concerns about the economic outlook.
Its quarterly credit conditions survey showed that the number of unsecured loans granted in the three months up to September was reduced, while lenders expect the figure to fall further this quarter.
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