Debt Management »
We'll come up with a debt management solution based on your individual circumstances.
Debt Consolidation »
Our experts can guide you through the range of debt consolidation options available.
Debt Help »
Kensington Financial Management Consultants are experts in providing debt help.
IVAs »
If you have a significant debt problem, you may be eligible to begin this legal process.
Trust Deeds »
A Trust Deed can lead to a significant proportion of your debt being written off.
Bankruptcy »
A Debt Management Plan, IVA or Debt Consolidation should be considered first.
Credit Card Preventing a Life Long Debt Problem
Credit card debt is now more in the public consciousness than ever before and it is something that is proving problematic for millions of consumers across the country; a fact which is likely to see the numbers seeking out credit card debt consolidation schemes increase exponentially. According to the report on This is Money, millions of credit card customers face changes to their repayments each month which has the propensity to leave them facing a lifetime of debt management struggles. The principle reason that this is an issue is the fact that many lenders are expected to rake in millions of pounds in additional revenue from interest each month by reducing the minimum amount that customers have to pay each month. News like this is expected to make many consumers take stock of their financial circumstances and turn to schemes like credit card debt consolidation which takes all of an individual's credit card debt and places it into a single repayment which will usually have a frozen interest rate; something which certainly can not be guaranteed with credit card debt in general.
Credit Card Debt Consolidation – Average Spenders Warned
According to the report on This is Money, it is those who use their credit cards an average amount who are likely to be most adversely affected by the changes being implemented by many of the leading lending institutions. For example, the changes introduced now mean that someone who has a balance of £5,000 to clear on their credit cards will now take in excess of 80 years to make the repayments in light of the recent changes allowing for lower minimum payments. As such, it really is prudent, particularly given the fact that recession is on the horizon, to endeavour to address credit card arrears now. One of the ways of doing this which is proving popular and efficient is that of credit card debt consolidation which helps consumers to understand and service their debt much more easily.
Credit Card Debt Consolidation – A Worrying Trend
It is already the case that millions of consumers are struggling with their debt management plans in the UK and it is worried that these recently introduced changes will compound the problem. Speaking to This is Money, credit card debt expert, Simeon Linstead, states, “'Complex changes to terms and conditions can cause confusion. On closer inspection, it doesn't seem that all customers will benefit from this change and some people would be better off under the old minimum repayment.” With this in mind, anyone struggling with credit card repayments should speak to financial consultants about schemes such as credit card debt consolidation.
Speak to Kensington Finance about Debt Consolidation
Kensington Financial Management Consultants Ltd is a total finance solutions company helping people all over the UK. We speak financial sense. We will allocate you a friendly advisor who will chat through your current situation and formulate a plan for you without obligation. Let us work out a financial solution based on your individual circumstances. It's our aim to help everyone who contacts us. With debt solutions from debt management and IVAs, mortgages & re-mortgages, secured & unsecured loans and advice and information for debt consolidation, bankruptcy and Trust Deeds, we can help. It really is worthwhile giving us a call or applying online today for a confidential chat with one of our friendly advisors. Call FREE on: 0800 096 4409.
