Secured
Bad Credit Loans Make Sense
Secured Bad Credit
Loans Set to Increase
FOR IMMEDIATE RELEASE
02/27/2006
Secured Bad Credit
Loans Set to Increase
Secured bad credit
loans used to be looked upon with some derision in years gone by. Now
they make complete sense, and we should be glad. Official UK figures
show us why!
London, UK, February
27, 2006 - According to CreditAction UK, total UK debt in 2006 now exceeds
£1.1bn, while secured lending was less than £1bn. Yet the
average value of a home now exceeds £200,000 while average household
debt in the UK is less than £8,000 excluding secured loans. So
by leveraging home equity to alleviate debt, consumers could reduce
their outgoings dramatically.
Average consumer
borrowing via credit cards, motor and retail finance deals has grown
five fold in 5 years. Yet the average house price in the UK in November
2005 stood at £186,431 (source: Office of Deputy Prime Minister).
New lending sources
are springing up which take into account all circumstances. This new
market for secured bad credit loans has opened up in the last few years,
and it has grown outside of the mainstay of the High Street banks. As
long as consumers have property then they can raise as much cash as
they like to pay off existing debts. Nor do people have to pay the exorbitant
interest rates that used to be the case with people whose credit rating
was not perfect.
Would it not make
sense to pay £60 a month in servicing a debt than £150 a
month servicing exactly the same debt? Secured bad credit loans provide
that opportunity.
The only sensible
way forward is quite clear. Consumers need to convert the high interest
debt into low interest debt by using their property as security. Even
if people’s credit rating is quite poor it makes more sense to
pay off the same amount of money at a lower interest rate by means of
a secured bad credit loan.
Increasingly people
are taking bigger financial risks, especially those in business and
the entrepreneurial minded. The secured bad credit loans market is expanding
to take account of that because it has to. Of course, consumers should
not consider bad credit secured loans if they are not absolutely sure
they can meet the repayments.
Contact:
Stella
Secured Bad Credit Loans
email: support@secured-bad-credit-loans.co.uk
Tel. +44 (0) 208 421 0485
Fax +44 (0) 208 428 8280
http://www.secured-bad-credit-loans.co.uk
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The writer is an
Internet marketer, and market and social researcher. His websites dealing
with secured bad credit loans take into account all possibilities that
a potential borrower might present. For what this could do for you go
to www.secured-bad-credit-loans.co.uk
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© 2006 Inteltab