The use of credit cards hit a plateau in 2005, the Association of Payment Clearing Services (Apacs) says.
Spending on credit cards climbed just 1% to £124bn, while the number of transactions dropped by 1% to 2.1 billion, Apacs said in a report.
The number of card holders who repaid their borrowing in full each month rose [...]
“Low income, combined with badly informed and poorly understood financial decisions, are at the root of many of our clients’ debt problems” say David Harker of Citizens Advice.
It could take 77 years on average for people asking Citizens Advice for help with debt to get back into the black, a report from the charity has [...]
Minister Jim Fitzpatrick suggests banks are partly to blame for their bad debts.
The government has rejected calls for more regulation of firms that market individual voluntary arrangements, known as IVAs, to people with debts.
Banks have been lobbying for stricter controls, claiming their own losses from bad debts have been due partly to unscrupulous marketing of [...]
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