Credit card holders advised to budget their way out of debt

Those struggling with credit card debt need to make a “truthful” budget, it has been advised.

Spokesman for the Consumer Credit Counselling Service (CCCS) Tom Howard advised that tactics such as continually moving balances from one card to another are ultimately futile, as they do not get rid of the debt.

He stated “Your first step should be to make a strict and truthful budget that will set out your finances and help you see where you are overspending, can cut back and such like.”

Mr Howard said that those in difficulties with their card payments can also seek advice from their own lender, or bodies such as the CCCS and Citizens Advice.

New figures from the latter organisation have revealed that in the 12 months to June 2009 it dealt with over 400,000 queries relating to credit cards, a 13 per cent rise on the total for the previous year.

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