Catalogue debt on the rise

Wed, 23 May 2012

Catalogue among consumers in the UK appears to be on the increase.

The Money Advice Trust has revealed more than 25,000 calls were logged with its National Debtline by individuals having trouble paying back what they owe to these companies in 2011.

This represented a record number for this , while the picture is already looking similar for 2012, as over 7,000 calls have been received in the first quarter.

Indeed, catalogue debt has climbed to fifth spot in the helpline's most common issues - higher than problems related to , payday loans and rent.

Joanna Elson, chief executive of the Money Advice Trust, noted catalogue arrears tend to go largely unnoticed among the British public, adding some people may be surprised to learn about the extent of such problems.

Ms Elson stated: "When buying from a catalogue, many people don't realise they are signing a consumer credit agreement, which means the debt is enforceable in the courts."

She added skipping a payment on this purchasing method can render any low or zero per cent interest deal invalid - a penalty many people are unaware of.
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