UK consumers are lying on applications in order to obtain credit according to a new report from CIFAS, the national fraud prevention service.
The group say that credit fraud has already risen 13% in the first quarter of 2008, with further increases likely as people become desperate to find a way out of debt.
David Kuo from Fool.co.uk commented, "I think what people need to do sometimes is if you have been turned down for credit, take a look in the mirror and ask yourself why."