Trust Deed Scotland, the independent Trust Deed introducer and provider of debt advice to thousands of Scottish residents can report today that according to the insolvency body R3, 47% of UK people are concerned about their debt and of these people 53% are particularly worried about credit card debts.

This equates to a 5% increase compared to the prior three months.

Credit card debt is one of the major contributors to personal financial difficulties and as recently reported by Trust Deed Scotland; hundreds of thousands of Scots have in excess of £30,000 outstanding to credit card lenders.

Regardless of whether you do or do not have debts, it is vitally important that you keep track of what you are spending at all times. If possible, write down any transactions and try and work this into your budget.

A common error made by those with credit card debt in Scotland is that they fail to take into account the interest, admin charges and late charges and when you multiply these charges across many different credit cards, it is easily understandable why so many people end up being sucked up into a debt vacuum.

Credit card lenders have been keen to draw in new customers using marketing tools such as interest free periods and while it proves to be a highly effective strategy for generating new customers, it in effect creates the debt vacuum as individuals seek to move debts around and then subsequently over-commit themselves.

If you do have numerous credit cards, it is crucial that you learn to use the right card for the right transactions and investigate small print before applying for or accepting the credit card.  

Essentially, the best credit card advice is to be as prudent and as careful as you possibly can.

Avoid using your credit card or only use it to purchase things you know you can afford and if you find yourself with excessive credit card debts that you are struggling to repay then try and speak to your lenders as early as you can about your situation.

There is help available to those with credit card debt in Scotland and this includes legislation including Trust Deeds and Debt Arrangement Schemes. To find out if you qualify for either of these debt repayment methods then you can speak to an advisor at a registered debt charity.

A qualified money advisor at a registered debt charity will be able to give you FREE impartial advice on your situation and help you to decide on your best course of action.