Secured loans 'can help with new year debt'
27/12/2007Secured loans and debt consolidation offer many people a way out after overspending during the festive period, according to one expert.
A spokesman for Thomas Charles & Co, a group which offers advice and support on matters of debt, said that people who find themselves struggling to cope with debt should consider the options available to them.
James Falla, director of the firm, said that for many people debt consolidation loans are a good way of tackling their finances and making a better start to the new year.
"If you do have one or two credit cards that are at the limit and don't seem to be going down … [you should] think about whether you need to be consolidating those credit cards with a loan," he said.
He added that some people have difficulty tackling the cost of Christmas in the new year and that it was important for people to organise their finances and that debt consolidation can help with this.
Earlier this year, a study conducted by Thompson revealed that shoppers were likely to spend more money this Christmas than last year, despite the recent credit crunch.
 © Adfero Ltd
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