Store Card Debt Advice

If you've run up huge debts on store cards, you're not alone. Every year in the UK, thousands of people seek debt advice to deal with the financial problems arising from this method of credit.

The average store card APR is an incredible 30% with many being even higher. Here are some of the main reasons people get into unmanageable levels of store card debt and are forced to look for professional debt advice:

• Appealing offers – It's easy to be tempted by offers at the till such as getting 10% off your purchases if you take out a store card there and then. What may seem like a good deal at the time could leave you paying 30% interest on those purchases in the future.
• Retail therapy – There's nothing wrong with shopping for clothes to make yourself feel good and look great but if you don't have the money to pay for what you're buying then it can be a habit that plunges you into serious debt.
• Lack of knowledge – Very few people take time to read the small print when they're applying for a store card as usually the process takes place in the store itself when your attention is not fully focused on what you're reading or signing up for. The first time you realise how high the interest rate is may be when your initial statement arrives in the post.
• Loyalty – It may be appealing to have a store card for your favourite shop if you're a frequent customer and they come with other incentives. However, if you are using credit to shop, the interest rate on your purchases could be halved by using a credit card rather than a store card. Store cards are a high price to pay for loyalty.
• The vicious circle – If you've got a large amount of debt on store cards and are struggling to make the repayments then it may seem like a good idea to borrow the money from elsewhere to help keep your head above water. This often leads to a point further down the line when all your borrowing accumulates to the point where it completely overwhelms you.
  

The importance of debt advice and the role it can play in helping you towards a better financial future should never be underestimated. If your debts are affecting your daily life and ability to function normally, you should seek professional debt advice as soon as you can.

Many people leave it too late to get the right help and advice on debt because it can be a difficult thing to face up to. If you can find the courage to tackle your debts head on as soon as they become a problem for you then the debt advice you receive could be very different from what you'd get if you just bury your head in the sand and hope it all goes away.

If you would like more information, ring Debt Solver now on 08000 434 begin_of_the_skype_highlighting 08000 434 end_of_the_skype_highlighting 336 (Free for UK residents only) or complete our debt wizard to see if you qualify