Research by price comparison site uSwitch has found that more and more people are beginning to find their financial commitments a burden. Their figures suggest 9.5 million or 23% of the UK adult population are finding their debts unmanageable.
uSwitch are recommending that those struggling with their finances as a result of the credit crunch look into the option of consolidating their debts to reduce their monthly payment to creditors.
As access to credit becomes restricted, people most severely affected by the credit crunch should consider debt consolidation as a way to manage their finances. Tom Nelson, Head of Secured Lending at Zen Finance, would recommend a secured debt consolidation loan to anyone who is struggling to make their monthly payments to creditors, as "it allows you to reduce your monthly payment, often by extending the term of the loan to better meet your budget"
If you are interested in finding out whether a secured loan could help you consolidate your existing financial commitments and make them more manageable, contact Zen Finance on 0800 083 3386 today.