Debt consolidation 'now a worthwhile option for many'
Debt consolidation 'now a worthwhile option for many'
- Monday, 3 August 2009Shifting economic conditions have made debt consolidation solutions an even more attractive option for struggling Britons.
That is according to one Aberdeen-based expert who explained that debt consolidation solutions can provide struggling adults with some much-needed breathing space by reducing monthly outgoings, despite often costing more in the long-run.
"With mortgage rates being historically low, debt consolidation is becoming a worthwhile option for many people," chartered financial planner Tim Twiddy told the Aberdeen Press and Journal.
"If you find yourself in the situation that it is difficult to meet your regular monthly payments on credit cards, loans and your mortgage, then you may wish to consider consolidating some, or all, of your debts on to your home loan to reduce your monthly payments."
Just last month, a study by the website moneysupermarket.com found that over half of all British adults now feel unable to save up any of their earnings, with many likely to seek out
debt advice in the near future as their levels of disposable income continue to shrink.

Recent Debt Management Plan News
56% of Brits have no life insurance which could leave family with debt problems
Wed, 04 May 2011More than half of UK adults currently have no life insurance cover, which could mean their loved ones are left with
debt problems when they die...
Brits thinking about retirement advised to seek debt advice
Tue, 03 May 2011Consumers considering their retirement options have been advised to seek professional advice, as they may end up with
debt problems in the future...
Brits planning to attend a wedding should start saving to avoid debt problems
Thu, 28 Apr 2011Consumers concerned about getting into
credit card debt to pay to attend a wedding may want to use their savings instead...
Couples planning their big day can avoid debt problems by negotiating a cheap wedding
Wed, 27 Apr 2011Couples-to-be worried about needing
debt advice in the future after paying for a wedding can ensure they avoid accruing
debt problems by negotiating a cheap wedding...