The UK Loans Market Gets Competitive by Grant Marwick
As if the UK debt market isn’t at busting point already, there are several Loan companies vying for new customers and the year has just begun. January is the busiest month of the year for loan applications so it is basically a feeding frenzy for the loan companies. ... There is a base rate drop on the cards this year and all the loan companies are factoring this into their rates on offer. ... Think of it this way: You get a loan for 5.5%, you take out payment protection and that extra charge on your card every month in real terms actually pushes your interest rate up by about 0.5%.

Drive Your Credit Blues Away With A Personal Loan by N Sachdeva
“I am a teacher in a reputed high school. I have always paid my bills on time and have never gone overboard with my spending. This Christmas my husband and I decided to redecorate our house. So I applied for a personal loan from my bank. To my utter shock the bank refused to give me the loan on... This is because the moment you apply for credit, the lender gets the permission to run a check on your credit history and more enquiries on your credit status will lower your credit score. ... But the tag of “bad credit” doesn’t come cheap as is obvious from the high rates of interest that bad...

Adverse Credit History: a Real Party-Pooper! by Robert Parker
Like most other UK borrowers do you also wish for a debt-free life this Christmas? So what do you do? You hang a bigger pair of stockings and then pray really hard! Guess what! You don’t have to rely on Santa Claus anymore to get rid of your debts. You can do it yourself too. ... So, arrears in your credit record mean a low credit score, which in turn implies an unimpressive credit history. ... This credit report is compiled and maintained by three major credit bureaus namely Equifax, Experian and Transunion.

Affordable Secured Loans & Finance by John Mussi
The most important benefit of a secured loan is it will give the borrower better options such as lower interest plus you can benefit from very favourable terms with this kind of loan. These loans can be tailored to suit your individual needs by extending the terms for a longer period of repaying... Although bad credit will not be a major factor when providing a loan to a borrower, it will have an impact on the money that you borrow, for example higher interest rates and the amount that you can borrow.

The UK's Growing Debt Problem by Miles Grady
An estimated 3m people owe more than £10,000 on credit cards, overdrafts and loans, new research shows. Among these people just over 2.5m have unsecured debts of more than £50,000, according to debt solutions company One Advice. The research found that one in 10 people who owe five figure sums... A consolidation loan can help save money if the interest rate on the new loan is lower than the interest being charged on your existing debts (especially if these are store cards or credit cards). ... Bankruptcy stays on your credit file for six years which can affect your ability to get a...

UK Consumers Regaining Control of Runaway Levels of Personal Debt by Michael Hanna
The UK in recent years has seen a massive growth in the levels of personal debt and thanks to increases in secured loans corresponding to a strengthening of the housing market; it does not appear to be slowing down. Recent figures from Creditaction show that since the end of 1993, when debt... There is still more that can be done to reduce unnecessary expenses however, with the average credit card APR at 15.75%. ... The means of making payments in shops has also seen changes, with debit cards now overtaking credit cards as the most favored card method to account for two thirds of all...