Students warned about credit card debt by Finance News Bulletin

Published: 06/12/07

As a number of charge and rate increases hits the credit card market, it is "more important than ever" that people shop around for a high-quality deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukBanks should take act to help avoid young Britons become over-indebted before they even create to work, according to one manufacturing observerJames Falla, managing director of debt consultancy Thomas Charles, said that British students have right of entry to extensive overdrafts and credit cards while still at universityThe result is that graduates start their careers due between £9,000 and £12,000 on their scholar loan, with an average overdraft of £2,000 and credit card money owing of £2,000 to £3,000 on top of that, he said

"When you're at university, you take the sight that everything is going to be okay," Mr Falla commented, addition that this is "an attitude thing"He said students often spend as they consider they will have lots of throwaway income once they start work, but when reality strikes they find that this is often not the caseThomas Charles research out this week exposed that 82 million adults are in money owing, with 2

1 million admitting they frequently struggle to meet their money owing repaymentsLast month, Mark Cockburn, Lloyds TSB Scotland sell network director, noted that levels of student debt are higher than ever beforeHe advised them to cautiously consider all their financial options and use "know-how budgeting skills" to plan ahead for operating cost and manage their cash and credit

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