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In response to the collapse of Bear Stearns bank – 17th March 2008

18 March 2008

Melanie Mitchley, Director at Callcredit said;

“The current focus on the emergency rescue of US investment bank Bear Stearns should be a real wake-up call to British consumers. People need to start thinking about how the reality of the Credit Crunch is going affect their own financial situation.

“Since the Northern Rock crisis and the signs of a troubled economy, a quarter of all UK consumers have become more concerned about their finances and understandably, their confidence has been shaken. This latest development is an opportunity to encourage all consumers who both save and borrow to assess their current financial health, and crucially, not take on additional credit they can’t afford. In an attempt to avoid debt, consumers need to move away from the ‘buy now, pay later’ attitude and move towards the ‘save now, buy later’ mentality. Taking a few simple steps such as reviewing a copy of their credit report will allow consumers to take control of their own financial futures.”

About Callcredit:

• Callcredit (www.callcredit.co.uk) is the UK's most innovative, state-of-the art credit reference agency, with an extensive range of information and value added services for businesses and individuals.
• Callcredit check (www.callcreditcheck.com) is the consumer arm of credit reference agency Callcredit, providing consumers with instant online access to their credit report and services to help them monitor their credit status.
• Callcredit has harnessed state-of-the-art information technology with an unrivalled knowledge of the industry's needs to develop a range of innovative information solutions. Solutions that are enabling major lenders and a host of other blue chip companies to address regulatory requirements, make better credit decisions, target new customers more effectively and manage existing customers more profitably.
• Callcredit is one of six core businesses that form the Callcredit Information Group. The other five are:
  • Database management company EuroDirect
  • Market analysis firm GMAP Consulting
  • Online payment service provider, Legatio
  • Scorecard development and affordability assessment specialist DecisionMetrics
  • Marketing services and database specialist, Broadsystem

  For further press information contact: Jane Fordham, Katie Moore or Sophie Smith at the Callcredit Press Office on 0207 067 0600 or callcreditpr@golinharris.com

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Callcredit Limited, One Park Lane, Leeds. West Yorkshire. LS3 1EP.
Telephone: +44 (0) 113 244 1555 Facsimile: +44 (0)113 234 0050 Email: info@callcredit.co.uk