(PRWEB) March 16, 2011
Last year more than two million people in Britain used credit cards to keep a roof over their head, a rise of approximately 50 percent compared to previous years. Shoppers also collectively owe £150 million of credit card debt directly tied to year-end holiday spending, according to a report published in the Telegraph. That's in addition to another almost £2 billion they piled on before the recent year-end holidays.
Unfortunately for UK households and cardholders who are still trying to recover from higher than normal end-of-year spending, credit card interest rates are not cooperating. Rates have, in fact, just hit a new 13-year high across Britain. To make matters worse the average credit card in the UK currently charges almost 19 percent interest, forcing cardholders to pay only the bare minimum - which is the worst way to manage credit card debt. That represents the most expensive median rates documented since 1998, and it comes at the worst possible time for those who are trying to struggle out of debt while also meeting their ordinary needs for food, housing, and petrol. Post Office Consumer Credit Report recently reported, for instance, that more than four out of every 10 people who use credit cards are now relying on their plastic to help them simply pay for groceries. This spells crisis for many households, who desperately need more convenient loans to make ends meet.
Luckily, there is a niche market within the financial community that specialises in loans made directly to people who have damaged credit or a low credit score. These products, conveniently named "Bad Credit Loans", are widely available, and for many consumers they are a way around stringent rules and rates imposed by conventional lenders and banks. It is possible to get cash loans quickly and easily from a bad credit lender, for example, without an extensive credit check or proof of higher income and low levels of debt. That's why many people have taken out these special loans in order to use the cash to either pay off burdensome credit cards or consolidate debt into one manageable loan and single monthly payment.
As a leading provider of loans for bad credit, loansbadcredit.org.uk can help with all kinds of expenses that would normally be refused by a mainstream bank for help - namely car loans, mortgage loans, or remortgage financing. Simply apply online, get the cash you want fast, and move forward with your life without the worry of additional lender or credit-card company hassles.