24 July 2008
A secured consolidation loan is still a "viable debt solution" for many homeowners, according to thinkmoney.com. The financial products provider said it is clear that the secured loans market is facing difficulties at the moment as a result of the credit crunch. However, it added that there are still loans available and borrowers can find a good deal if they shop around to find the right provider. "Talking to the right company can make all the difference between being offered credit at a competitive rate and being unable to avail a secured loan at all," a spokesperson said. According to thinkmoney.com, a secured loan can be a "realistic" way to consolidate unsecured debts into manageable monthly repayments. But the company warns that while they may offer help to people struggling with debt, they are by no means an easy way out of it. Secured loans provider FirstPlus recently closed its doors to new customers after announcing falling profits.
© 2008 Adfero Ltd
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