| Jan 25, 2008
Alliance & Leicester has suggested that the new year could be a good time for indebted UK consumers to take out a loan in an effort to solve their personal finance problems.
Many Britons used store credit to fund their way through Christmas, but in the new year a low-cost loan could be a better way for people to manage their money, the financial services firm maintains.
Store card credit leaves borrowers with some of the most expensive debt available in the UK and it is particularly important for consumers to reduce their arrears with these lenders as soon as possible in 2008, according to Samantha Owens, from financial comparison firm Moneyfacts.
"If you do find yourself with a debt hanging around your neck, then a personal loan may be a good solution. Rates can be much lower and the regular fixed repayments can work well for the less disciplined of us," said Ms Owens.
"The new year is a great time to remedy any financial hangover you may be suffering from 2007," she added.
Research carried out by Engage Mutual Assurance recently found that millions of people in the UK keep personal finance secrets from their live-in partners.
Source:
http://www.qck.com/finance-firm-makes-
case-for-consolidation-loans-loans-18406727.html
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