- Warning. Beware of financial advisers promising unusually high investment returns.
- In Money Marketing this week the Financial Services Authority is warning advisers about the dangers of selling dodgy non regulated investment products. What about warning the public?
- Wed 28th Jul 2010
- Have you been miss-sold your mortgage and are now stuck in mortgage hell.
- I have been speaking to a number of mortgage gurus over the last few days and the prickly topic that keeps cropping up is mortgage miss-selling.
- Wed 14th Jul 2010
- Bank of England to hold interest rates until May 2011. Good news.
- The british chamber of commerce have stated that rates will be on hold for quite some time.
- Tue 6th Jul 2010
Consolidation "very effective" in reducing debt
Thu 3 Jan 2008 1pm
Taking out a personal loan for consolidation purposes can be a good way of tackling debt problems, an expert has stated.Iain Wrenshall, director of Debt Help UK, said that consolidation loans can be very useful for people with money difficulties because they provide "financial structure", making a number of different commitments easier to handle.
However, he also warned consumers that borrowing more money to get out of debt is not always the right option and said that, in some cases, another loan could be "the financial straw that ultimately breaks the camel's back".
Commenting on the positive side of debt consolidation, Mr Wrenshall explained: "A consolidation loan can be very effective, because under the right circumstances it can lower your expenditure and make your borrowings cheaper, making them more affordable."
According to a recent study by debt counselling service Thomas Charles, 15 per cent of British people are in serious debt, which is classed as owing £10,000 or more.
