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Credit cards 'not the answer to January debts'
Posted by Emily Swanson
People struggling to make ends meet in the aftermath of the festive period should avoid resorting to credit cards if possible, an expert has suggested.
David Rodger, managing director of the Debt Advice Foundation, explained that a vastly increased number of Britons begin to have serious concerns regarding their personal finances at this time of year.
Indeed, Mr Rodger noted that calls to his organisation's debt advice helpline double in January as consumers realise they have overspent at Christmas.
However, the expert warned that borrowing more money to cover day-to-day living costs is not "tackling the underlying problem", particularly if this is done through credit cards or payday loans.
A study published by the Post Office recently showed that more than 12 million people will spend the first month of 2012 relying on plastic to get by, but Mr Rodger indicated this represents a dangerous way to live in the present economic climate. 
09/01/2012 14:07
News category: Consumer