Home
NewsPersonal loan and credit card milestone recognised
Personal loan and credit card milestone recognised
Posted by Emily Jones
A charity marked a milestone in terms of consumer debt over the course of this weekend.
On February 20th, the Consumer Credit Counselling Service (CCCS) observed what it dubbed as Debt Freedom Day.
The occasion marked the number of days' earnings people have to accrue on average since the start of the year in order to cover the cost of the interest on finance agreements such as credit cards over a 12-month period.
It took the opportunity to advise Britons not to avoid debt problems but rather to seek help as soon as possible.
According to Laura Carver, helpline manager at the CCCS - a registered charity which is based in Leeds - being unable to repay debts is the most obvious sign of problems.
Other indications include "only making the minimum payment on your credit cards each month, not knowing the total debt you have, lying to your friends or family about your spending and debt and using credit to repay debt," she added.
22/02/2010 16:50
News category: Consumer