No, we’d advise against taking out more credit if you’ve been made redundant.
Although getting a credit card or loan or increasing your overdraft might seem like a good way to pay off some of your debts or cover your day-to-day living expenses, it’s only a short-term solution.
Taking out more credit when your income has reduced is likely to make your financial situation worse, especially if you’re unable to pay it back on time.
If you're worried about debts and being made redundant, take two minutes to answer a few simple questions, so we can understand the best way to help you.