The modern day simplicity of arranging a loan or credit card has led to many of us becoming quite complacent - not being too worried about needing to find some quick cash for anything that may lie ahead.
However, the availability of such borrowing is definitely shying off. Now that the banks are also fretting over being short of cash, they're becoming increasingly cautious about who they will lend to. Many lenders have ditched unsecured loans altogether in favour of the less-risky secured loan.
Equifax has reportedly experienced double the number of credit checks being made by consumers, desperately trying to arrange a personal loan or credit card as the clamp-down takes hold.
