/24-7PressRelease/ - LONDON, UK, June 10, 2006 - Citizens Advice Bureau is directing loan companies to simplify the terms and details of different loans. It is said that the change can prevent borrowers from taking excess loans that they can't manage to repay .Moira Haynes, from the bureau said that though loan market has expanded, but it has become very complicated. She further said that it should be made clear to borrowers that which finance plan they have taken what will be consequences .It is nearly impossible for the creditors to understand the contents which are written in small prints. Many creditors just ignore it which results in big trouble. Actually, probable dire consequences of the loans are written in the small prints.
Help and transparency can prevent people from getting into debts. She further added that loan companies should make it clear to the borrowers. An MP, Barbara Keeley said borrowers should seek advice before taking another secured loan on their property.
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