Consumers 'should shop around' for Christmas credit

The importance of shopping around for credit has been highlighted by two financial bodies.

A number of spending tips have been provided to consumers by the Consumer Credit Counselling Service and the Finance and Leasing Association (FLA), when it comes to the issue of festive outgoings.

The organisations believe that those looking to get credit to pay for things like Christmas presents should take the time to shop around for good deals, rather than opting for the first offer they see.

Fiona Hoyle of the FLA also believes that people should address any Christmas-related debt issues they may have in a quick manner.

She commented: "Take stock after Christmas - if you're not going to be able to repay your debts, talk to your lender as soon as possible."

Meanwhile, moneysupermarket.com has recently suggested that people should shop around when looking to get loans to help them with their Christmas outgoings.

Written by Tom Burroughs