‘Debt Consolidation’ News

Young men more likely to opt for debt consolidation

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Posted 2008-02-11

Men in their twenties are more likely to opt for debt consolidation loans than anyone else, figures suggest. Stats from the Halifax found twentysomethings are most likely to take out a debt consolidation loan, followed by those aged 30 to 39.The figures also show more loans are taken out in January than any other month - almost double compared to some months. Neil Chandler, head of Halifax unsecured personal loans, 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.” Men are more likely than women to take out a debt consolidation loan - a stat consistent throughout the year. The Consumer Credit Counselling Service says people should share information about loans with their friends and family. ...

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