Personal debt on the increase
Loan providers will continue to make money through interest and charges, despite the UK's growing debt problem, according to one industry observer.
Wally Stone of debt management company Resolve UK says getting into debt is very easy for Britons, as they have credit is increasingly accessible to them.
'Finance houses in the UK lend money far too easily,' Mr Stone comments.
And he says loan providers will not stop because they are making money from extending credit to those who apply for it.
'The national press pays lip service to the huge size of debt in the UK, but never writes anything serious about it,' he adds.
Last year, total personal debt in the UK exceeded £1 trillion for the first time.
Some experts advise those who would like to get out of debt to consider taking out a debt consolidation loan to repay the money they owe through one avenue.
However, those planning to take out debt consolidation loans are being urged to shop around for the most competitive deal before signing up for credit. | 
