Beware credit wolves, warns user

(Shutterstock)
(Shutterstock)
Shutterstock [http://www.shutterstock.com]
A young Fin24 user is warning others against access to easy credit and how he narrowly escaped the debt trap. He writes:

Dear Editor

I would like to firstly thank you for the information (in The Debt Issue)... it is a real eye opener.

Although I'm not in trouble with my creditors, I found myself in a corner by having to pay off debt every single time I receive my salary.

Granted, I'm only 24, and have been employed for just under a year and a half, but I quickly found access to all kinds of credit facilities.

Credit providers just threw their offers at me and for a moment I was caught in the trap.

Luckily I quickly saw my error (of taking up the offers), and am currently on my way back to financial health.

I just think people should be made aware of the loan offers, because they are never as great as they are made to appear.

Young and foolish

- Fin24

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