Britons avoid debt by `cutting up` credit cards

Around 2 million Britons have cut up their credit cards in the past year to avoid spending too much and falling into debt, The Independent reports.

Research has suggested that 1.8 million credit card users have `taken scissors to their plastic` to avoid debt during the recession.

And a uSwitch poll of 1,000 consumers found that an estimated 10 million people are only holding on to their cards in case an emergency arises.

7% of Britons are reported to have between 5 and 6 unused credit cards, which have a combined credit limit of around £200 billion.

A spokesperson for debt management company Gregory Pennington said: "It`s an encouraging sign that people are thinking twice about the way they handle their finances. For example, by keeping credit cards for emergency use only, many people are minimising the amount of debt they`re taking on.

"Anyone who is using their credit card to purchase everyday essentials, such as food, should contact a professional debt adviser, who may be able to help them manage their finances more effectively so they`re not forced to take on debt like this.

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.