/24-7PressRelease/ - LONDON, UK, June 05, 2006 - The Citizen Advice Bureau (CAB) wants the loan companies to simplify the loan terms and conditions so that borrowers would get rid from their unmanageable debt.
Mora Haynes from the Citizen Advice Bureau (CAB) said that credit market has expanded a lot and it is very difficult to manage. Lenders are therefore, advised to present a clear picture of the loan terms to their customers to avoid unmanageable levels of debt.
Lenders are advised by the CAB to provide clarity and assistance for loans like secured loans, unsecured loans, personal loans, etc. This practice will help in avoiding the unnecessary debt that the borrowers generally face.
Borrowers are also advised that if anyone of them suffers from debts, he or she should take assistance from the organisations like Citizen Advice Bureau (CAB).
Barbara Keenly advised that anyone looking for loans like secured loans should take advice from the organisations to avoid unnecessary debt. As secured loans are taken against collateral, so, in absence of the loan advice, if a borrower face problems like defaults, lenders may repossess the property of the borrower.
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