There are several ways to consolidate your current debts however the main two are either debt consolidation re-mortgages or to take out a secured loan which will pay off all your current debts such as credit cards, store cards and hire purchase agreements.
Currently a typical re-mortgage for people with poor credit ratings is approximately 8.5% [...]
In the current climate, many people are struggling to pay off several large debts, with some barely affording to meet the minimum payments. The danger with this is that the minimum payment barely covers the monthly interest on a debt, meaning the actual balance only goes down by one or two pounds a month.
Of course, [...]
Following years of cheap and easy credit, we are now experiencing an ever-deepening recession, and, as a result, many people are struggling with unprecedented amounts of debt.
Peter McGahan, Managing Director of Worldwide Financial Planning, advises:
“Ensure you pay off debts that have the highest interest rate first. Also, remember to pay bills that are secured to [...]
