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PPI claim news: Britons 'facing an uphill battle financially'

More Britons may be encouraged to claim against mis-sold payment protection insurance (PPI) in order to boost their coffers, as many will face an uphill financial battle in 2012.

This is according to Skipton Building Society, which has suggested that "reckless spending" on credit cards in 2011 has made for a bleak outlook this year, with many households predicted to struggle to pay off their debts.

A study conducted by the organisation indicated that the average Briton used their plastic 267 times last year, spending a huge £17,000.

It appears that people are no longer using their credit cards just to pay for luxury items, as the research discovered that many more are being forced to pay their utility bills with their cards.

Head of corporate communications at Skipton Tracy Fletcher believes credit should only be used for one-off purchases and in emergency situations.

"While it might seem like a quick fix in the short term, it can prove to be a nightmare later on," she remarked.

Bosses at saveoursavers.co.uk recently claimed that British households are in more debt than ever at the moment.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.

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