Credit: the consumer perspective

The U.K. has seen a considerable expansion in the use of credit during the 1980s. Although the majority of consumers are able to manage their use of credit there are many whose borrowing leads to hardship. There are various ways in which the availability of credit can be controlled but there is a high degree of reluctance to do so, both on the part of government and the credit card companies. A mechanism for assessing credit worthiness and a properly resourced system for assisting those who experience difficulties through using credit is needed. The social and economic consequences for consumers of the overuse of credit cannot be underestimated.