23 May 2008
As the credit crunch starts to take hold, consumers should ensure that they manage their finances effectively and not get into debt, it has been claimed.
Debt firm Gregory Pennington cited the Bank of England Governor Mervyn King and suggested that the "nice" times may have gone.
The organisation asserted that it is "dangerous" to continue making monthly debt repayments, which could have been accrued on credit cards, because personal circumstances can change.
A spokesperson said: "The Governor of the Bank of England reminds us that those good times could be over - and that the economic worries of the nation will directly affect us all as individuals."
With volatility currently being seen in the financial markets, the firm added, consumers should have adequate debt prevention measures in place.
In other credit card news, American Express recently claimed that the Blue Sky product offers incentives such as bonus points for customers.