Credit lenders are reassessing their balance sheets as the current business model they are using is unsustainable. That is the finding of a new report, Precious Plastic, by PricewaterhouseCoopers. It was also found that UK consumers still have high levels of debt in comparison to those in Europe. Richard Thompson, partner at the firm said: "Over the last 12 months there has been a cooling passion for plastic - credit card borrowing has fallen by three per cent to £64 billion."He added that future credit cards are likely to be "reinvented as payment rather than borrowing tools". "Consumers do not fully appreciate the likely future changes to the market. As the recovery gains momentum, consumer demand for credit will return." Mr Thompson said that lenders will likely be "unable or unwilling" to increase supply in such a circumstance. As people become more disgruntled with lenders, there may be an increase in credit card charge claims. Belmont Thornton can help you make a PPI claim – Payment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.