Credit card complaints spike 9%
By UK CreditCards.com
A total of 6m inquiries were brought to the attention of Citizens Advice over the past year, the charity revealed today, with a 9% rise in issues related to credit cards and other forms of lending.
However, other sectors were found to have experienced far sharper increases. Inquiries on redundancy rose by 114%, while mortgage issues were up 49%.
The credit crunch-induced economic downturn, which has made card and loan conditions tighter for consumers and pushed unemployment up past 7% of the workforce, is the main cause of the general increase.
David Harker, Citizens Advice chief executive, said: "These new figures show the human impact of the recession."
The expert added that providers of 0% credit cards and other credit card deals must now reflect the downturn when dealing with customers.
"It is … absolutely vital that all lenders and creditors treat people in arrears fairly and sympathetically, negotiate with borrowers in trouble and do everything they can to help ease their debt problems and avoid adding to them," he said.
Published: 11 June 2009
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