Debt, Credit Card & Consolidation Current News Digest

The Guardian

New rules to hit credit cards CITY A.M. NEW sets of rules expected to tackle the UK's consumer debt mountain will be placed on credit card companies later this year. Prime Minister Gordon Brown … Gordon Brown has swipe at credit cards ripping off customersMirror.co.uk PM to clamp down on credit cardsThe Press Association Good question: Keep eye on credit cardsPittsburgh Post Gazette all 66 news articles »

BBC News

Canadians continue to use their debit and credit cards with confidence … Trading Markets (press release) With billions of transactions taking place in Canada each year, debit and credit cards are an essential part of everyday life. However, Canadians are aware … Use caution when using credit cardsLethbridge Herald Fraud on debit and credit cards fell by more than a quarter in 2009 to £440.3MRetail Bulletin Fraud losses on UK credit cards drops 28 per centYorkshire Evening Post all 170 news articles »

BBC News

Canadians continue to use their debit and credit cards with confidence … FOXBusiness With billions of transactions taking place in Canada each year, debit and credit cards are an essential part of everyday life. However, Canadians are aware … Use caution when using credit cardsLethbridge Herald Fraud on debit and credit cards fell by more than a quarter in 2009 to £440.3MRetail Bulletin Fraud losses on UK credit cards drops 28 per centYorkshire Evening Post all 150 news articles »

BBC News

Fraud on debit and credit cards fell by more than a quarter in 2009 to £440.3M Retail Bulletin New figures released today show that total fraud losses on UK cards fell by 28 per cent between 2008 and 2009 to £440.3 million - a decrease of £170 million … Fraud losses on UK credit cards drops 28 per centYorkshire Evening Post all 110 news articles »

Cheap Debt Consolidation: Easy and Fast Cash Aid for Abrupt Expenses The Open Press (press release) London, UK (OPENPRESS) March 10, 2010 — Good time to console your debt with UK Financials Ltd. It is providing secured and unsecured form of debt …

Reclaims UK (blog)

Debt consolidation and how it can help you Reclaims UK (blog) Debt consolidation has helped thousands of people become debt free since the start of the recession, helping them reduce their debts and free up any cash …

Which4U - UK

Visa Money Transfer Zaps Cash to Australian Credit Cards CardRatings.com Expats and other global travelers can soon send money directly to their Visa cards from Australian residents, thanks to a new partnership between Visa Inc. … New Prepaid Cards from PreCash Provide Flexible Alternatives to Credit Cards …Online PR News (press release) Prepaid credit cards 'can be an effective choice'Which4U - UK all 11 news articles »

The Guardian

UK firms 'forced to use credit cards to stay afloat' Telegraph.co.uk One in five UK businesses is financing its operation using credit cards, partly due to the lack of finance from banks, according to new research from the … Businesses forced to resort to credit cards, says IoDThe Guardian all 93 news articles »

Credit Card Debt Consolidation to Rise? Earthtimes (press release) MANCHESTER, UNITED KINGDOM — 02/15/10 — Credit Action's recently released statistics indicate the growing personal debt problem in the UK. … and more »

A lot of people are desperate for money right now, and seeking an unsecured personal loan as a solution to the problem. Unfortunately, desperation does not improve your chances of securing a personal loan at a good interest rate and with a manageable repayment schedule.

The most important thing, for people who are feeling desperate for money, is to take a deep breath and then take some time to research the options. Rash decisions can cause loss of money as well as peace of mind, which is something that is priceless.

Compare Personal Lenders Online

One of the best ways to start looking for an unsecured personal loan is to research a few online personal lenders and see what the interest rates and terms are. Many lenders require documents such as paystubs from a job or a copy of a bank account statement, but some online personal lender require very little documentation and may not even do a credit check before issuing a personal loan.

Additionally, the U.S. Congress has instituted restrictions on high interest lenders, so this has put a crimp in the style of credit card companies and other high interest lenders. The online personal lenders that do remain in the marketplace are thus usually pretty respectable outfits.

Beware of Loan Sharks

Speaking of pretty respectable outfits, one group that does not belong to that category is loan sharks. As noted in this article about loan sharks in the U.K., lenders who take advantage of desperate people are doing a lot of business right now.

That is sad. But it can be prevented by thinking carefully before choosing a personal loan. Also, prospective borrowers may want to consider where the funds are going. How badly do you need the funds? For example, are you trying to make rent or just save a car that you can’t afford anyway?

This may seem like a frank statement, but this the type of no-nonsense viewpoint you need to adopt so that desperation does not lead to rash personal loan decisions like going to a loan shark.

Time to Consider Ditching Some Stuff?

Many people are loaded down with bills and feel like they’re drowning. One option is to seriously consider getting rid of some stuff. Turning in the unaffordable car, for example.

Ideally, a personal loan is a bridge to an affordable life, not merely another bill added to the pile.

« Previous entries