Are consumers turning away from credit?
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The amount of credit given to consumers fell in 2010, with only car finance increasing last year.
Credit card spending fell by 7% in 2010, while the value of unsecured loans approved by lenders dropped by almost a quarter (24%), according to figures from the Finance & Leasing Association (FLA).
Spending on store cards also fell last year, with shoppers reducing their use of the products by 7% compared with 2009.
The only area of consumer credit that expanded last year was the car finance market....
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