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Women’s debt stems from desire for ‘equality’

2/13/2012

Women are more likely to have run up credit card debt in an effort to gain ‘equality’, Georgina Earle, director of Women In Debt said.

According to the director, it has been a constant goal in the past couple of years for women to get “financial independence” from their husbands.

She said, “More females have been able to secured credit based on better jobs, higher salaries and if they got into difficulty there was always equity readily available in the home. However the past few years have seen a huge change and I believe that women will fare the worst.”

Generally, despite women having slightly lower debts than men they have tended to opt for more expensive forms of credit like catalogues and storecards when compared to their male counterparts.

However, whilst independence financially has been a goal for women for some time, some couples take out joint loans, which, if they split up, can leave them jointly and separately liable for the repayments.

Categories; Current UK Economy, Credit Card Lifestyle,