15 September 2006
The Consumer Credit Counselling Service (CCCS) has commented on personal loans and the process of personal pricing in the financial industry.
Frances Walker, CCCS spokeswoman, said a key point for consumers was to borrow only what you can afford to pay back.
Speaking on the issue of personal pricing she said a good credit rating will allow consumers to get the best rates "rather than be subject to a flat rate based on the overall risk to the entire population".
Ms Walker also said consumers should consider whether they are better off with a personal loan or an authorised overdraft.
She added: "If you are using credit cards, make sure that you payback more than the minimum amount otherwise you will find that your shopping costs you a lot more than you think."
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