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Debt Consolidation – Debt charities express fears

Debt charities have expressed increased concerns about the rising levels of debilitating debt. Debt consolidation loans are one way of reclaiming your finances, and your life.

Debt consolidation loans are increasingly in demand as debt tightens its grip on the UK. Debt consolidation loans allow people in debt to put all their debts into one monthly repayment, usually at a negotiated lower rate of interest. As such, debt consolidation loans offer a chance for households and individuals to reduce their outgoings and claw back their bank balance. But too many people are not taking action over their debt.

Debt consolidation – the first step to financial freedom

According to leading debt charities, the number of people in the UK reporting debt problems is rapidly increasing:

• The amount of people having problems paying gas and electricity rose by a third last year.
• Council tax concerns were up 25%
• Telephone debt worries increased by 19%

The rise in inquiries suggests an increasing number of people struggling to juggle with loans, overdrafts, credit and store cards and other debts. Every day living costs are falling behind, leaving many home owners at risk. For those people who rent, it can leave some vulnerable groups such as pensioners with life-or-death decisions during winter – such as whether to put the heating on or not. Debt consolidation is one way of getting your debts under control so you can work towards building a financially rosier future to safeguard your retirement.

Debt consolidation loans – Making debt manageable

As water bills soar, oil prices have reached an all-time high, food costs are increasing and mortgage loans are becoming more expensive than ever, it’s never been so expensive to meet day-to-day costs. If you’re already struggling with debt, it doesn’t take long for it to rapidly increase – a debt consolidation loan will help you get on top of your existing debt and help you budget your monthly finances. Research shows that mortgage repayments are not £5,000 a year more on average, pushing many families to the brink. Escalating costs are very worrying for those on a fixed income. As the Daily Mail reports those worse affected are those in heavy debt who may be turned away by lenders if they are seeking to borrow more to manage debt.

Speak to Kensington Finance for debt consolidation and debt management solutions.

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.