MoneySolve Condemns Reckless Credit Card Lending

MANCHESTER, England, August 24, 2010 - Debt experts at MoneySolve Debt Management have condemned the reckless
credit card lending that has been reported in recent press.

Research conducted recently has discovered that families are being
offered cheaper credit than prior to the recession, sparking fears that this
encourages over-borrowing in the midst of fears over job losses and a
potential 'double-dip recession'.

The research highlighted that some banks are offering lenders credit
cards with interest free introduction periods of over 12 months. MoneySolve
experts believe this is encouraging families into debt, commenting that:

"This is nothing short of reckless. We're in a period in which there are
heavy spending cuts coming, potentially costing a lot of jobs, and we're
still feeling the effects of the last recession! Some lenders just haven't
learnt from the mistakes that contributed to the last economic crisis.
Over-lending encourages over-borrowing and this results in higher levels of
personal debt. It's as simple as that."

Credit card debt (
www.moneysolvedebtmanagement.co.uk/credit-card-debt) is a severe
problem in the UK, a country that has more credit cards than people and
MoneySolve believes that lenders are failing consumers:

"Of course we all have to take an element of responsibility for our own
lending. But the lenders are the supposed experts here. They have to accept a
level of accountability for instances in which people are permitted to borrow
more than they can realistically afford to repay."

If you are affected by mounting personal debts and are struggling to make
your repayments, call MoneySolve for free, non-judgemental, confidential
advice on 0800-040-7064.

Contact: MoneySolve, Elizabeth Beesley, Astute House, Wilmslow Rd, Handforth, Cheshire SK9 3HP, +44(0)1625-544789