Getting a loan to live?
April 29, 2008 on 12:18 pm | In Debt Management, Loans
Consumers are running into trouble as a combination of rising costs and tighter lending criteria squeeze their spending powers. Provident Financial has reported that more and more people are borrowing money from them and it blames food and fuel prices. It is worrying that people are borrowing money to live and not just to buy luxury items.
Clearly something has to give. Mainstream lenders are seeing bad debt soar and they are no longer willing to give money to anyone. In fact lenders such as Provident are not a soft touch and in the past six months it has rejected 7 in 10 credit card applications. I am concerned about those people who make applications to look for credit to live. If that is you, you need debt advice.
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