PPI Claim News - 26/4/2012
Loan claims: Relying on credit 'is not sustainable'
People who are reliant on making payday loan claims and incurring credit card charges to meet their monetary needs ought to find a more sustainable solution.
CashQuestions.com director Annie Shaw argued individuals relying on these financial options are at risk of being "caught in a trap", wherein they realise they owe money so borrow more to pay it.
"Of course, that means the problem is exacerbated," she pointed out.
The specialist warned anyone who is thinking of sorting out their finances in this way to avoid doing so, adding she would "beg them not to do it".
Instead, they ought to seek professional advice, reduce their outgoings and begin budgeting, Ms Shaw suggested.
"It is a matter of organisation," she remarked, stating people have to "get on top of their spending".
"The sensible thing is to get some help, rather than getting yourself more and more into debt," Ms Shaw had previously asserted.
Jennifer's speciality knowledge is credit card changes and balance transfers.
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