(1888PressRelease)
April 13, 2007 - Opposing the negative stories associated with credit and borrowing in the UK, Julia Dallimore, marketing director of Picture Financial said that maintaining some level of credit is a fact of life for most people.
She said: “Our recent research shows that the vast majority of the population is in fact comfortable with their levels of borrowing. However, many worry that they are not getting the best deal on interest rates and charges on their existing credit.”
She added: “As such, credit consolidation through a secured loan is often an intelligent choice for people who want to reorganise their existing credit arrangements. However, no financial product follows a one-size-fits-all approach, and they are designed with specific criteria and customers in mind.”
Hence, her advice to loan seekers is that proper knowledge of the terms and conditions of the agreement is essential. She said: “Every day we make informed choices that enable us to improve our lifestyles – a more fuel-efficient car; new electrical goods – and a financial product should be no different.”
Reflecting on consumer choice, she felt that “the decision to take up a secured loan or other financial product is ultimately about consumer choice: it is one option that will be suitable for some and not for others.”
Regarding lenders, she said: “Any responsible lender will have a vigorous screening process in place, credit-scoring all customers to ensure that they do not lend to people who cannot comfortably afford the repayments.”
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