It has become more difficult for people to get credit in the UK, an expert suggests, as lending criteria have been tightened.
Organisations now appear more willing to ensure that consumers are able to pay back the money they borrow, Andrew Hagger of Moneynet.co.uk has stated.
"They are unlikely to let people get into situations where they can't afford to repay," Mr Hagger, the comparison website's spokesperson, commented.
In relation to the economic downturn, he noted: "Hopefully we won't see a repeat of what has happened during the last couple of years."
People only really have problems relating to credit when they borrow too much money, the expert went on to say.
Meanwhile, the switching website uSwitch.com last month published figures showing that as many as 11 per cent of the country's adults might be in the position where their spending is greater than the amount they actually earn.
Posted by Tom Burroughs.
