The vast majority of us have been worried about our debts at some point, but taking out a secured loan may be one way to help relieve that stress.
Figures from the Debt Advisory Centre show that more than three-quarters (76.9 per cent) of borrowers have concerns about paying back what they owe every so often, while 15 per cent are worried about this all the time.
The survey also showed that a third of people felt that the relationship with their relatives became strained when they were fretting about their debt and 15 per cent had similar concerns about how they got on with their friends.
This comes after the Children`s Society and Step Change indicated that close to 2.5 million children are a part of families that are struggling with `problem debt`, with the stress leading to more arguments and emotional distress.
You can try to get back in control of your unsecured debt through various routes such as budgeting better, avoiding using credit for purchases, cutting back on expenses or taking our some form of debt consolidation loan. One of the latter is a personal secured loan for homeowners. This can enable you to borrow sufficient money to pay off your unsecured loans, such as credit cards, store cards and loans and spread the payments over a longer term to reduce your monthly outgoings.
Please be aware you should always think carefully before securing other debts against your home and be extending loan terms you`ll end up paying more in interest payments over the course of the secured loan.
Discover more about how secured loans may be one way to help you relieve your debt stress by visiting firstchoicefinance.co.uk or calling us for on 0333 003 1505 on your mobile or 0800 298 3000 from a landline.
Unsecured Personal Loans
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Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.
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