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Tuesday 24th June 2008
Young people are being bombarded with offers of credit from lenders, new research reveals.
According to Citizens Advice, around two-thirds of 16 to 24-year-olds have been offered unwanted cards and loans in this way.
Being offered a store card while out shopping and receiving unsolicited mail from a credit provider were two of the most common methods found to be employed by firms.
Elsewhere, 55 per cent of the youngsters found it "easy" to take credit, while 65 per cent also supported the idea that taking out a card or a loan should be made "more difficult".
Around half of the 16 to 24-year-olds also said that they either had suffered or were currently suffering with debt problems - brought upon in part by the repayments demanded by card and loan firms.
In September 2007, Credit Action said that the UK's collective personal debt stood at around £1.4 trillion.
Citizens Advice undertook its credit research with the help of fellow charity YouthNet.
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