Secured loans as an alternative to horoscopes
18/04/2008It has been suggested by one expert this week that consumers are not doing enough to maintain their credit rating - something that could be aided by a secured loan.
According to Tim Moss, head of debt at price comparison site moneysupermarket.com, more people in the UK are likely to believe what their horoscope tells them about their finances than take the time to check their credit status.
He states that one of the most worrying things is that around 13 per cent of consumers in Britain don't know how to check their credit rating and many may be unaware of hidden debts that need to be addressed.
"Relying on Taurus to see what's in store for your credit card, loan, mortgage or mobile phone application is a load of bull," he said.
He added that people need to ensure that high interest rate debt is not damaging their credit profile and suggested avoiding ID fraud was another reason to check your status.
For some people, checking their credit status can be the first step towards debt consolidation - which can often be aided with a secured loan.
 © Adfero Ltd
<< Back to News page
|