Personal loans could help new year finances, expert claims

Thu, 21 Dec 2006

Britons struggling with high levels of debt could look to personal loans to get their finances in order in the new year, one expert has claimed.

Richard Al-Dabbagh, the senior personal loans manager at Alliance & Leicester, said that consolidating debts with personal loans could also help to save consumers' money over the long-term.

"A low-cost personal loan could make borrowing more manageable - or at least make the start of the new year less of a headache - and it is likely to save you money in the long run."

According to a recent study by the bank, 23 per cent of Britons would consider consolidating their debts with personal loans offering a lower rate of interest.

Additionally, almost one-third of respondents expected to reduce their monthly repayments by consolidating with personal loans, while nine per cent believe this to be the best way to clear their debts in the new year.

Financial services watchdog uSwitch recently claimed that Britons could collectively save £5.6 billion by switching to cheaper personal loans.


add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Credit Crunch Savers
HSA Dental Plan
Get covered from £7.70 per month!
Amex Cash Back
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company