| Over the recession many people were labouring with | | | | credit card and loan payments. can mount up, as you |
| debt more than normal. The recession that lasted for | | | | are charged every time you pay by cheque or every |
| the best part of three years hit the personal economy | | | | time that you make a direct bank payment. |
| of many, and even though we have been advised | | | | Homeowners, providing that they have equity on their |
| officially more than two months ago that the recession | | | | property, can arrange debt consolidation which is the |
| is over, the finances of many has not changed. | | | | lumping together of all outstanding debts. |
| If truth were told, it is almost certainly the case, that the | | | | Equity is the difference between the value of a |
| economy is much more fragile than the general public | | | | property and the outstanding mortgage balance, and |
| realize, and it would not take much for the country to | | | | although house prices fell during the recession, most |
| fall once more into a recession. The election on the 6th | | | | homeowners will have equity, as long as they have |
| of May will not help the economy for some time to | | | | lived for a few years at their home. Remortgages and |
| come. | | | | secured loans make good debt consolidation loans. |
| Therefore there is no point delaying putting your | | | | Credit cards have interest rates of up to 40% APR, |
| personal financial house in order, as there is not going | | | | personal loans have higher rates of interest than |
| to be a sudden miracle over night cure for those who | | | | personal loans, in general, and home improvement |
| find themselves labouring with too much debt. For | | | | loans have an APR of approximately 25%, if the loan |
| people with too many debts in credit cards, personal | | | | is arranged by the firm carrying out the improvements. |
| loans, home improvement loans, etc. there is a cure for | | | | It is now possible to get a self employed loan as long |
| their financial blues, especially if they own their own | | | | as you are a homeowner, can produce three months |
| home. | | | | bank statements and have a maximum loan to |
| One of the worse aspects of debt is having too many | | | | valuation of 60%. |
| different pieces of debt in a number of credit cards, | | | | With secured loans now readily available from about |
| etc. When there are too many bits of debt to be paid | | | | 9%, and remortgages even lower at from less than |
| each month, it can even become quite difficult to keep | | | | 2%, it becomes apparent the wisdom of arranging |
| in mind on what days of the month they are all due, | | | | debt consolidation by a remortgage or a secured loan |
| and as such to pay every single debt on time every | | | | to save money and take the stress away from your |
| month. | | | | money management. |
| Banks impose charges for making payments for all the | | | | |