Debt Victims Need Bad Credit Loans To Pay Basic Household Bills

Share Article

Recession victims are increasingly turning to bad credit loans to pay basic household bills as the recession continues to bite. Unsecured loans experts at Credit Problems No Problem (http://www.creditproblemsnoproblem.co.uk) are receiving increasing numbers of calls from borrowers desperate to pay their bills but fear they have been blacklisted for loans. Last year Credit Problems No Problem reported that growing numbers of blacklisted borrowers had been abandoning large and expensive purchases in favour of debt consolidation. Now the recession is biting even harder. Although debt consolidation is still in demand, growing numbers of borrowers say they are taking out bad credit loans and CCJ loans to cover basic day-to-day living costs.

Recession victims are increasingly turning to bad credit loans to pay basic household bills as the recession continues to bite.

Unsecured loans experts at Credit Problems No Problem (http://www.creditproblemsnoproblem.co.uk) are receiving increasing numbers of calls from borrowers desperate to pay their bills but fear they have been blacklisted for loans.

Last year Credit Problems No Problem reported that growing numbers of blacklisted borrowers had been abandoning large and expensive purchases in favour of debt consolidation.

Now the recession is biting even harder. Although debt consolidation is still in demand, growing numbers of borrowers say they are taking out bad credit loans and CCJ loans to cover basic day-to-day living costs.

Many of the borrowers have County Court Judgements (CCJ) and defaults against their names and fear they have been blacklisted from taking out further finance as a result.

This is prompting increasing demand online for bad credit loans and CCJ loans, says Credit Problems No Problem which can help by consolidating your existing debts to cut your interest payments.

Families can then use the money they save on lower interest payments to pay their basic household bills - avoiding the danger of running up further arrears - and pay off the money they owe.

"There are many families out there who lived beyond their means in the good times and consequently incurred bad credit ratings," said a spokesman for Credit Problems No Problem.

"Even after cutting their spending, they still find they need money to cope with basic household outgoings. We can help many of them by restructuring their interest outgoings with sensible and realistic bad credit loans that will not overburden them.

"Using a competitive bad credit loan to consolidate your debts makes good sense if you use the money that you save from lower interest rates to help pay off the money that you owe.

"We are receiving more and more applications for bad credit loans as the economy tightens."

Despite lower inflation, families are still struggling to cope in the downturn with:

  •     more people losing their homes - 40,000 repossessions in 2008 (a 12-year high, according to the Council of Mortgage Lenders), with forecasts of 75,000 in 2009
  •     growing numbers of redundancies - Britain's jobless total broke the two million barrier in January. Britain's unemployment rate now stands at 6.5 per cent, according to ONS data
  •     fewer jobs available - there are now 10 jobseekers for every one job advertised at a Jobcentre, warns the TUC
  •     above-inflation increases in basic utility bills - earlier this month UK water companies proposed average rises of £23 above inflation over the next five years.

Credit Problems No Problem is particularly concerned at the impact the recession is having on young families with bad credit ratings as they seek to shore up their finances with bad credit loans and CCJ loans.

"I feel very sorry for the youngsters, many of whom will not have experienced a recession before," said the spokesman for Credit Problems No Problem.

"They are beginning to realise that life out there for them is now not what it was. The reality is starting to hit home for them and they need help."

Credit Problems No Problem helps out people who fear they have been blacklisted because of County Court Judgements (CCJ) and defaults.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

For rapid help, phone 0800 412 5634 or visit http://www.creditproblemsnoproblem.co.uk

Notes For Editors

http://www.creditproblemsnoproblem.co.uk

Credit Problems No Problem Ltd
Queensgate House
Exeter
EX4 3SR
United Kingdom
Tel: 0800 412 5634

Credit Problems No Problem was formed in 2003, bringing together a team of specialists that together offers 27 years of expertise to help applicants gain the unsecured loans they need.

From its UK head office in Devon, Credit Problems No Problem operates across Britain, sourcing loans for people with bad credit.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner's Office for Data Protection.

No fuss service - guaranteed.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Credit Problems No Problem
Visit website