Home > News > Debt advice

Government warns about rising credit card debt Debt - the 12-month view Amount of `bad debt` written off reaches 16-year high Deeper into debt: middle-class poverty Debt taken on by individuals increased in January Debt Relief Order (DRO) rules may be changed Overdrafts: five million Britons `permanently` in debt Mortgage lending drops to decade low The cost of debt falls Two thirds hope to have cleared mortgage debt by 50 40% of people approaching retirement `saddled with debt` Repossession `may be best` for homeowners struggling with debt Bankruptcies in Scotland - the worst may be yet to come Good news for people with energy debts US: new law provides debt-free date More debt taken on than repaid in December Savings rise as consumers pay down debt Household debt `could trigger another downturn` More families could fall into debt with energy companies Recession ends

Three in ten with credit card debts `don`t plan to repay` them soon

13/11/2009

According to research by moneysupermarket.com, more than three out of ten credit card users aren`t planning to repay their outstanding credit card debt for over six months, headlinemoney.co.uk reports.

The news comes not long after the news that banks may increase the cost of using a credit card - which means borrowers could face higher interest rates and fees.

The price comparison site found that credit card users between the ages of 20 and 29 were least likely to repay their debts quickly, with 38% `content` to hold outstanding debt on their card for more than six months.

Peter Harrison, credit cards expert for moneysupermarket.com, said: "People must be extremely careful about carrying debt on credit cards for long periods of time - you don`t want to be paying for this year`s presents when the Christmas decorations are rolled out again next year; particularly as rates could be at new dizzy heights."

A spokesperson for Debt Advisers Direct added: "We would advise anyone struggling to repay their credit card debt to contact a professional debt adviser without delay."

---

Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

Government warns about rising credit card debt 05/03/2010 - The latest figures from the Bank of England (BoE) have Debt - the 12-month view 04/03/2010 - In January, UK citizens - between them - borrowed £500 Amount of `bad debt` written off reaches 16-year high 03/03/2010 - The latest figures from the Bank of England (BoE) suggest Deeper into debt: middle-class poverty 02/03/2010 - The recession has also affected a lot of people with