Individuals who rely on a
According to Equifax, there is normally an increase in
Neil Munroe, external affairs director for the firm, explained that a number of people who usually rely on January credit will not be able to find a
He said: “At the moment the general view is that if they are in the marginal area, so if their credit score is only marginally acceptable for lenders, they may find it more difficult.”
UK payments association Apacs has estimated that Brits will spend £53 billion this Christmas.
Credit Action reported that by the end of October, total personal debt in the UK had reached £1,391 billion – a 9.7 per cent increase over the previous 12 months.
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