It has been recommended by the Association of British Credit Unions (ABCUL) that consumers worried about debt problem are better to take personal loans in stead of using credit cards.
November 16, 2006 (Press Release) --
It has been recommended by the Association of British Credit Unions (ABCUL) that consumers worried about debt problem are better to take personal loans in stead of using credit cards. It will make their task of debt management easier.
London (e-secured-loans) Nov 14 2006: Consumers worried about debt problem are recommended to take out personal loans rather than making use of credit cards. It is Association of British Credit Unions (ABCUL) that came up with this advice.
While showing reason in favour of the recommendation the Association claimed that low interest and fixed repayment instalments associated with personal loans make it far easier for the consumers to manage their debts. Thus personal loans, both secured and unsecured, remains a better option for raising fund.
Recent report from The Debt Counsellors reveals that credit cards are one of the major causes of serious debt issues in the UK. Credit cards are the main reason behind more than ninety percent of serious debt cases. While explaining the reasons behind this, ABCUL officials mentioned the lack of repayment structure in credit cards and high interest charged by credit card lenders.
Credit cards come with so high interest that many of the consumers end up paying most of their income on it. Their tireless efforts for years fail to touch the principal amount. On the contrary, personal loans come with comparatively lower interest rate and favourable terms for which consumers can repay them without much difficulty.
For additional information on the news that is the subject of this press release (or for a copy, demo, or sample) contact webmaster or visit www.e-secured-loans.co.uk
London (e-secured-loans) Nov 14 2006: Consumers worried about debt problem are recommended to take out personal loans rather than making use of credit cards. It is Association of British Credit Unions (ABCUL) that came up with this advice.
While showing reason in favour of the recommendation the Association claimed that low interest and fixed repayment instalments associated with personal loans make it far easier for the consumers to manage their debts. Thus personal loans, both secured and unsecured, remains a better option for raising fund.
Recent report from The Debt Counsellors reveals that credit cards are one of the major causes of serious debt issues in the UK. Credit cards are the main reason behind more than ninety percent of serious debt cases. While explaining the reasons behind this, ABCUL officials mentioned the lack of repayment structure in credit cards and high interest charged by credit card lenders.
Credit cards come with so high interest that many of the consumers end up paying most of their income on it. Their tireless efforts for years fail to touch the principal amount. On the contrary, personal loans come with comparatively lower interest rate and favourable terms for which consumers can repay them without much difficulty.
For additional information on the news that is the subject of this press release (or for a copy, demo, or sample) contact webmaster or visit www.e-secured-loans.co.uk
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