CCCS gives tips about avoiding debt
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Money News |
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CCCS gives tips about avoiding debt
Wed 21st Nov 2007
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James Ketchell, spokesperson for the Consumer Credit Counselling Service (CCCS), predicted that compared to the past, this year "people will have to live within their means".
Although he said that "a debt problem is very rarely caused solely by Christmas", he also advised people to examine how much they spend so that the holiday does not become "the tipping point which pushes people over the edge".
The higher cost of certain loans for those who cannot get mainstream credit should be taken into account by those borrowers before they begin spending.
Mr Ketchell added that this type of thinking could help consumers "realise the full cost" of Christmas.
His comments come after research from MoneyExpert.com revealed that 1.91 million people had their loan applications turned down in the past six months to the end of September.
