/24-7PressRelease/ - LONDON, UK, December 03, 2006 - Economic experts warned that millions of Britons will be debt-ridden throughout their life. Many people are now hoping to take advantage of a proposed fast-track bankruptcy solution, while others are going in for 'Individual Voluntary Arrangements' to pay off their loans in a step-by-step process.
Rachel Crawford, a project manager and facing debts amounting to 90,000 says, "we live in a culture which encourages debt. The misery comes when you can't make the minimum repayments and the charges start to stack up. Being in debt is a very expensive business..."
While most debt problems seem to be caused by borrowers failing to manage their finances properly, lenders are also partly at fault for offering irresponsible mortgage loans. Financial Services Authority (FSA) now has become more vigilant, and is fine tuning new measures to be implemented soon.
About uk-direct-loans
It is one of the leading independent finance brokers offering various financial products, such as secured and unsecured loans, as well as personal, debt consolidation, bad credit and car loans. uk-direct-loans is regulated by FISA and holds a Consumer Credit License.
For more information visit: http://www.uk-direct-loans.co.uK
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