Rising Trends in Debt Consolidation

April 3, 2012

Debt consolidation is a type of financial planning wherein a person takes a loan from one creditor to pay off several creditors and debts at once. This method is suited for those looking to be debt free and pay only one check a month to the creditor. By consolidating one’s debts one can reduce the overall interest that they are paying and pay off their debt over a period of time. Debt consolidation can help make people debt free if it is part of one’s financial plan and is implemented systematically. Market research has shown that a rising number of Britons are taking out personal loans to consolidate their debts. With the interest rates on personal loans much less when compared to credit cards or unsecured loans, one is able to save a significant sum on interest. Another advantage of personal loan is that the monthly amount to be paid towards the repayment of personal loan is fixed and hence predictable. Unlike a credit card one cannot continue spending money through personal loans.

Market analysts claim that one in three personal loans in the first three months of this year will be taken out towards debt consolidation.  That is roughly 30% of loans taken out. Research has also shown that households are keeping a close watch on their budget and monthly outgoings. Debt consolidation goes a long way towards clearing debt and managing one’s expenses.  The use personal loan for debt consolidation is useful for those who are no longer eligible for the interest free period on credit cards and are likely to pay huge sums towards interest. While shopping around for a personal loan it is advised to look around properly and find a plan that suits one best. There are several low interest schemes in the market, but one should read the offer carefully before deciding to go along with it
 

How People Handle Bad Credit Loans

March 18, 2012

Facing a bad credit situation can put one in an agonizing situation. It is hard to think so many times before paying bills and making any financial decision but nevertheless they still find some excellent ways to get out of this situation. Some expenses need to be paid off early and they may have hazardous problems if the payments are delayed. They avail some financing solutions where they can get a quick loan so that they can get back on their feet to handle more important matters. These financing solutions are often called as bad credit loans. They are aimed at delivering for those candidates who have a low credit rating which disables them to get any loan when they need from a reputable institution. Now they just have to go through a 60 second application process and that will easily get them a financing solution.

One such example of bad credit loans is that you can have immediate financing solution for vet bills. Now your favorite pets can get medical treatment at the ideal moment because this loan is tailored for this need. You just have to take your pet to the vet and start the treatment. There is a simple application process that will fetch the funds you need for your cat or dog. Usually these medical expenses are substantial and are hard to pay off in such a short notice. This kind of loan is made to make sure your animals stay healthy and hence give you a secure life. It is a true research that pets play a very important role in bringing happiness to their masters or pet owners. Now those pet owners who have not been able to get loan at emergency notice, they can finally get a loan from this advantage. It requires no historic information but the current details regarding the medical treatment details for the pet.

 

Avoid Payday Loans For Students

February 19, 2012

We never thought that this would be possible however there are payday loan companies out there that are advertising student loan payday loans!  Yes it is true.  With the current APR on student loans at an already unbelievable percentage, a payday loan company comes and offers to offer students payday loans to cover their financial aid?  This is absolutely absurd, a noted of by this website.

There is also an article on this subject regarding the matter over here at the Daily Mail, where you can read the article more thoroughly.

In brief, this payday loan company called Wonga, charging students payday loan APR over 4000%!  Can you believe this madness?  We certainly can't.  The company claims that they are no longer offering these financial services to students and longer, and we are glad because this type of loan arrangement would be putting lot of students in debt very quickly.  According to the company it was a minor incident involving search engine optimization gone wrong.


We are asking you to speak your opinion on this matter and make it known that it is not okay for payday loan lenders to offer payday loan to students who are already in financial distress.


Please do us a favor and leave a comment below that we can let these financial institutions know that this is not okay!

 

It's gone

September 18, 2010

 

Loan Sharks And Payday Loans


Jack is a financial guru who is interested in high risk loan opportunities, micro-loans, etc. He spends his time blogging and researching these terms. He also enjoys boating in the intercoastal and playing volleyball at the beach.

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