<< Most Recent Articles

Borrowers 'shouldn't bury heads in the sand'

People in debt should ensure that they do not "bury their heads in the sand" with regard to their finances, it has been advised.

Debt Help UK stated that by being aware of all the debt solutions available to them and finding one themselves, consumers can avoid having them "thrust upon them".

Director of the debt advice website Iain Wrenshall commented that looking around for the best solution is "incredibly important". He said: "As your situation degrades, then your options generally become narrower and, ultimately, your creditors have the sanction to make that choice for you."

Price comparison and switching service uSwitch.com disclosed that people in the UK are paying £93 billion in interest alone, on debts such as loans, credit cards, overdrafts and mortgages.

Figures from uSwitch.com also show that three million people have consolidation loans in order to reduce their monthly outgoings and potentially reduce interest payments.

See how much you could save with a debt consolidation loan from Lombard Direct.

© Adfero Ltd

14/01/2008 14:46:31

Most Recent Articles