‘Debt Consolidation’ News

Young people most likely to turn to debt consolidation

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Posted 2008-02-4

New research from Halifax shows that young people are most receptive to taking on debt consolidation loans. People between 20 and 29 are most likely to turn to debt consolidation, with the 30-39 year age group the next most likely. January sees twice as many loans as any other month, with men more likely than women to take out debt consolidation loans, a figure consistent throughout the year. Neil Chandler of Halifax said: “For many people, the start of the year is a time to get personal finances in order - transferring debt from more expensive products such as store cards or other loans.” For those who take out loans, The Consumer Credit Counselling Service advises they share information about their loans with family and friends. ...

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