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NewsConsumers 'must do their homework before taking out credit'
Consumers 'must do their homework before taking out credit'
Posted by Emily Swanson
Britons have been urged to make sure they are fully aware of the details prior to putting pen to paper on any credit deal in the aftermath of the recession.
According to Liz Dunscombe, director of partnership development at Credit Action, it is essential for consumers to conduct proper market research before making any final commitment to borrowing.
Ms Dunscombe called on people to go through the small print on any contract with a fine-toothed comb so they avoid any nasty surprises in the future, such as if they were to miss a payment.
"There are so many different quirks to different credit cards. People have just got to do their homework and not rush into things," she added.
Research published recently (August 17th) by Aviva revealed there has been a marked rise in the number of people asking their family for financial assistance since the onset of the global economic downturn.
19/08/2011 15:27
News category: Consumer