Debt Consolidation Advice

A research from moneysupermarket.com reveals that one in five Britons carry more than 3 credit cards and that 17% of credit card holders use their card at least once in a day. The research also discovered a worrying trend – over 14 million Britons are using credit cards to fund their day-to-day purchase such as grocery shopping. Shelter estimated that more than 1 million households used their credit cards to pay for mortgage or rent in the last 12 months. These figures reflect the extent to which recession has impacted the finances of Britons during 2009.

According to the Reality Gap Report, commissioned by Bright Grey, Britons believe their average outgoings to be £892/month but the reality is that they are spending £486 more than this (at £1378/month). If push came to shove, 43% Britons think they could use their savings to cover the bills if they lost their income source but the report reveals 38% of the UK's working population could not survive beyond one month on their savings alone.

Debt has become such a common problem that today anyone can be seen facing it. It is, therefore, important to take a serious account of it as soon as possible because debt problems can worsen an individual’s financial situation. Moreover, juggling with multiple debt repayments each month can be tough; in such a scenario, it’s common for anyone to look around for a cost effective way to consolidate bills. So in order to solve your debt problems, the first step that should take is to contact RedHouse Debt for the right debt consolidation advice!!

What is debt consolidation? As the name suggests, debt consolidation consolidates debts of all kinds (unsecured loan, remortgage, or credit card bills) so that you repay the current outstanding debt faster at a lower interest rate. Debt consolidation provides the convenience of one monthly payment instead of many freeing you from the hassles of tracking various repayment dates for the many debts you have. In nutshell, you have one creditor, one beneficial interest rate, and you stretch your single monthly payment over time.

Seeking a debt consolidation advice from RedHouse Debt can help you regain control of your finances so that you can tackle your debts in a way that's most appropriate for your situation. And most importantly, it is free and to your benefit. “Getting a debt management advice from someone who could look at my situation in an impartial way made me opt for RedHouse Debt. I repaid all my debts in full with a debt consolidation loan from RedHouse Debt and the biggest benefit that I received was a perfect credit report,” said Deborah Friedman, who took a free debt consolidation advice from RedHouse Debt and opted for a debt consolidation loan.