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DISPATCHES: CHRISTMAS CREDIT CRISIS
This Christmas shoppers are expected to spend £31 billion on the high street. Over £7 billion of that will be on plastic. But has this British addiction to borrowing got out of hand? With higher interest rates and the UK banks burnt by the global credit crunch, reporter Tazeen Ahmad investigates the unsettling implications for those who've borrowed too much. As house repossessions and mortgage defaults continues to soar, is Britain's trillion-pound credit timebomb about to explode? How responsible were the high street banks to allow people to borrow so much on plastic? The programme also examines the methods the credit card companies used to target vulnerable consumers, and uncovers the hidden tricks used to charge customers more money.
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