 Credit cards |
| Search News |
|
|
| Find an IFA |
|
|
| Financial News |
|
| UK Spotlight |
The Financial Services Authority (FSA) has announced plans for a significant restructuring of the authority. We will see the retail and wholesale divisions merged into one business unit, risk...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
| |
|
|
|
|
Monday 1st September 2008
The last few months has seen more and more UK consumers fall into the trap of over using their credit cards without having the funds behind them to cover the debit should it be called. If you are in this situation should you be concerned?
It is always bad financial planning to spend more than you bring in but with credit cards it is a lot worse because of the fact that interest is charged and can seriously mount up in a very short space of time. However, if you find yourself in a position where you are not able to cover the monthly payment or feel that the pressure is growing, should you approach your credit card provider and ask them for help and advice?
The sooner you admit you have a problem and seek advice the more chance of being able to resolve the situation in a satisfactory manner. If you bury your head in the sand hoping that it will just go away you will be in big trouble sooner of later. The current economic downturn could last for some time yet and a restructuring of your debts now could be the difference between bankruptcy and a few hard months. If you play ball with the credit card companies they are more likely to play ball with you, but burying you head in the sand will only antagonise them even more! |
→ Request Free Guides on a range of Finance Issues
→ Full Credit cards News Archive
→ Return to Homepage
|
|
|
|
| Other top stories in this section:
|
|
|
|
