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Bin the credit card to reduce the pressure

Only lately have we seen the focus shift away from general banking to the credit card industry, with the UK government implementing a number of guidelines to assist those in financial trouble. In essence, credit card companies have promised not to chase customers in default until they have been given time, either by using the credit card company's advice line or a third-party advice line, to get their affairs in order. While this is all very useful, in many cases it can be a case of "closing the gate after the horse has bolted".

In the real world there is only one person who can help you reduce your credit card debt, and that person is you. Bin the credit card if you are over your limit or approaching a situation which will impact upon your monthly budget. Many people across the UK have been caught by the easy access to use their credit cards in situations where they would normally walk away if they had no money. While there's no doubt that credit cards are very useful in many cases of everyday life, they do offer the potential to shift from a fairly stable financial situation to one which could literally take years and years to pay off.

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