Credit card companies in the UK are concerned over rising debt and an increase in loan defaults. Though fuel, utilities, higher council taxes, among other necessities are a reason for the increase debt, many are noticing that consumer’s attitudes have shifted for the worse recently.
New bankruptcy laws have many consumers much less concerned about defaulting on a loan. Analysts predict this attitude to continue, which worries the major credit card companies. With competition becoming more fierce everyday, finding the consumers with a good debt history is increasingly harder. ■
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