Are The Days Of Easy Credit Numbered?
Hector Sants, Chief Executive of the Financial Services Authority recently made it clear that the FSA will continue to push money lenders to become more responsible when loaning money.
With the recent pressures being placed monies markets, and the USA credit crunch coupled the tightening of UK regulation through the FSA could mean for many the days of continuous borrowing to pay for life styles could be over. And herein lies the danger, as many have come to rely on the ease of gaining credit to support such status. In the most recent results for The Debts Counsellors Credit Survey shows that 44% of those taken part said they strongly agreed that credit was easy to get. But is this going to change?
So, with the FSA pushing and the senior management being placed into a corner, the days of easy credit could be numbered, and for many borrowers this could spell a very rocky road ahead.
For more information, visit debtcounsellors.co.uk