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Credit crunch 'has changed the way Brits view loan claims'

The recession has made many Brits reluctant to incur bank charges or deal with credit card claims, a study has shown.

An investigation by revealed 33 per cent of people believe the "buy now, pay later" culture that existed before the credit crunch was wrong, while a further 28 per cent said they now understand that owning savings is important.

Furthermore, 14 per cent of people said they see the recession as normal and are dealing with the fact that their incomings and outgoings will never be the same.

Additionally, 47 per cent of adults think the UK's economy has a long way to go before it returns to strength, while 18 per cent believe the tough fiscal climate will continue forever.

An optimistic 13 per cent said the recession will come to an end within the next five years.

"The lack of affordable credit, little or no pay rises, increased unemployment and reduction in benefits has put further strain on households," head of banking at Kevin Mountford said.

John Fieldman
Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-801448680-ADNFCR

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