Home > News > Debt consolidation

`Many consumers less likely to save over coming months` Money worries `overtake crime and immigration` Savings suffer in favour of debt repayment UK "friendship debt" at over £4bn, study suggests Consumers advised to protect their income Financial pressures `will see consumers hold back at Christmas` Credit crunch causing consumers to risk debt? 55% of Brits trying to clear debts Energy companies ‘blocking price comparison’ 47% considering car sharing Debt consolidation has "many benefits" "Sting-in-the-tail store cards" may cost over the odds Loan rate rises may see more debt consolidations Debt consolidation `can be done without a loan` Debt consolidation `one of many options` Consolidation loans "stand out from the crowd" Consolidation loans `can help in long credit rating fight` Facebook users warned over illegal debt ads Consolidation loans `can ease financial burdens` Consolidation loans `provide essential funds`

Consolidation loans `can ease financial burdens`

01/05/2008

Consumers can ease the financial burden of weighty debt problems by taking out debt consolidation loans, according to an industry expert.

By paying off the vast majority of their creditors, a consolidation loan can reduce the pressure of a borrower`s debt problems and let them concentrate on paying off just one loan, George Kane said.

Writing for Best Syndication, Mr Kane - who has worked in the finance sector for 20 years - said that many lenders allowed people in bad financial situations to borrow between £5,000 and £75,000 in order to pay off debts.

He added: "Out of a number of offers of debt consolidation loans, you can select the most suitable offer by comparing the rates of interest and additional charges."

Mr Kane`s claims were recently backed up by Johns Tiel, who told the news provider that debt consolidation loans can "eradicate" problems with credit ratings.

Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according British reliance on gas for energy growing 06/01/2009 - New figures suggest that Britain’s dependence on natural gas is Small business seek cap on credit cards 06/01/2009 - Credit card interest rates should be capped to help small