Around 3.3million people in the UK are in persistent credit card debt
CREDIT card companies will have to do more to help customers in persistent debt, under new rules proposed by the financial watchdog.
Around 3.3million Brits are in persistent credit card debt paying more in interest and charges than they have repaid of their borrowing over eighteen months.
Alamy
More than half (1.8million) of these borrowers have been in debt for two back-to-back periods of eighteen months.
Persistent debt costs customers on average around £2.50 for every £1 repaid.
The Financial Conduct A…
Read the full article at: https://www.thesun.co.uk/money/3240993/credit-card-companies-may-be-forced-to-help-people-who-are-in-persistant-debt-as-watchdog-urges-them-to-do-more/