Friday, November 27, 2009
Category:
Consolidation
According to Confused.com, non-repayment was the reason behind one in five accounts being closed by providers in the UK.
It has also been revealed that the national average was exceeded by 13 percent in Yorkshire, where 35 percent of accounts were closed by providers as a consequence of non-repayment.
Closely following Yorkshire was the South East, where 33 percent of accounts were reportedly closed due to a failure to make repayments. In contrast, the figure was found to be just 8 percent in North East and Anglia.
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Homeowners who have accumulated several credit cards over the years could consider tying these up in one place with a secured loan. One of many finance options available, a secured loan for debt consolidation could allow the borrower to reduce the number of repayments they face each month to just one, as well as potentially reducing their current outgoings. However, if opting for a secured loan to consolidate debt, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
