Archives for 17 August 2007
Balance transfers ‘no longer debt consolidation solution’
Interest-free balance transfers are no longer the best solution for consumers looking into debt consolidation, it has been advised.
According to Equifax, lenders are decreasingly willing to allow customers to switch to interest-free balance transfer offers when their current deal runs out.
The financial intelligence service suggests that the habit has become “a popular juggling act among […]
‘Small sacrifices useful’ for debt management
Debt management efforts may be assisted by “small sacrifices”, it has been advised.
Julie Hedge of independent financial adviser Christie Scott’s suggests that debt management need not unduly harm an individual’s social life.
She states that a fund equivalent to about three months’ salary could be enough to lead many Britons to a more secure financial situation.
“People […]