With the research predicting a credit refusal rise from seven million in 2006 to 8.6 million in 2011 as interest rates rise, now has to be the best time to re-examine outgoings and debt interest burden
(PRWEB) August 31, 2007
As disposable income disappears Debt Counsellors explain how to lower the debt interest burden.
"With the research predicting a credit refusal rise from seven million in 2006 to 8.6 million in 2011 as interest rates rise, now has to be the best time to re-examine outgoings and debt interest burden," comments a senior counsellor for The Debt Counsellors.
According to The Debt Counsellors, "Consolidating debt from existing borrowing could be the best way for consumers to control their borrowing. Refinancing (debts) to lower the interest is an increasingly popular solution."
Currently nearly one in seven people in the UK have opted to consolidate debt in the last three years with a secured debt consolidation loan delivering substantial debt interest burden relief and huge peace of mind. The average value across the country for a secured debt consolidation loan is currently around £25,000.
Of course, The Debt Counsellors affirms, "Think carefully before securing debts against your home. Your home may be reposed if you do not keep up repayments on your Mortgage or any other loan secured against it". Continuing, he said: The Debt Counsellors always begin by advising that consumers re-examine their weekly and monthly budgets to see where the best savings can be made."
The Debt Counsellors suggests; take a pen and paper with you for a couple of weeks and jot down absolutely everything you spend money on - it can be a revelation to find where the money's really going. "Here at debt counsellors we examine each enquiry for advise very carefully - our trained advisors offer a range of simple effective strategies to enable consumers to make stronger financial decisions easing the worry and enabling them to get their finances back on track."
The Debt Counsellors concluded by saying: "Nobody should feel ashamed about their debts as so many people are in the same boat. At the very least, people suffering with debt problems should talk to a professional debt counsellor to find out about the various debt solutions that are available."
If you are concerned about your finances please call The Debt Counsellors for expert debt advice.
To be Debt Free in 36-60 months, please call: 0800 018 6018 or visit http://www.debtcounsellors.co.uk