Article: British Families And Debt
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British Families And Debt
There is current concern from the Bank of England that British families are getting deeper into debt, however, it has been said that lenders are putting themselves at risk because people are now more willing to make themselves bankrupt.
Despite people already having significant amounts of debt, credit card companies are still prepared to lend these people money. This is a combination of a creditor not knowing the full picture of a persons financial commitments and employees of credit card companies being under pressure to sell credit cards and insurances policies to earn bonuses.
People will receive random telephone calls from companies who will try to sell the benefits of their cards and use the selling point of lower rates plus the option to transfer the bal...
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