- It is official - Trumpo has been mauled by the Bear.
- The FTSE 100 has dropped again today to offically trigger a bear market.
- Fri 11th Jul 2008
- Interest rates set to rise.
- Trumpo weeps along with builders, bakers and candle stick makers.
- Fri 20th Jun 2008
- House Builders weep
- Trumpo has just been sent a frightening set of statistics from a super-successful builder.
- Fri 13th Jun 2008
Debts "number one" reason for personal loans
Wed 31 Oct 2007 4pm
The desire to consolidate existing debts is the main reason why British people make loan applications, it has been claimed.According to Sainsbury's Bank, debt consolidation is at the top of the "big three" motivating factors in the loans market - the other two are car purchases and home improvements.
Head of loans at the bank Steve Baillie said that borrowing more money to pay off debts is "not a bad thing" necessarily, as it can often act as a "trigger to sorting things out" for people in financial difficulty.
Mr Baillie stated that personal loans can "absolutely" be used as a sensible solution to solving debt problems, if managed in the right way, because they give people "an opportunity for them to review their position".
He commented: "Debt consolidation is number one at the moment.
"But that's not a bad thing, if you look at it. Customers are sorting themselves out."
Figures released by Credit Action for September this year state that consumer credit grew by £1.4 billion during the month, while total lending increased by £11.2 billion.
