Debtors struggling with repayments 'have options'

Anyone struggling to cope with credit card debt has a number of options open to them, it has been claimed by one personal finance institution.

Sainsbury's bank states that it is important that consumers try to make more than the minimum payment on any card that they hold, thereby reducing their borrowing at an improved rate and avoiding trouble with debt.

The company was responding to data released by price comparisons site MoneyExtra that showed a high number of people are still paying off the help with money borrowed via credit cards from Christmas 2006.

Donald MacLeod, head of cards at Sainsbury's Bank, remarks: "The other thing is to look around and see whether there are better deals than what you're currently getting from your provider and that may well offer you an opportunity to reassess your costs."

He added that a number of cards also have reward offers attached to them, such as Sainsbury's own Nectar points - and suggested that the January sales can be an ideal time to seek out new providers of help with money.

Meanwhile, for those wishing to provide help with finance to others as well as to themselves, the Fair Investment Company has highlighted the important role than charity credit cards have to play in funding non-profit organisations.