14 June 2005
A new report has shown that loans to consolidate debt are the primary reason consumers have to borrow.
PolarLoans Money Monitor, found that nearly half of loan applications were for debt consolidation.
The study found that 42 per cent of applicants wanted to consolidate debts with a loan.
It also revealed that 20 per cent of loans were for home improvements, while nine per cent were for a new car.
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