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Debt Consolidation – Not Dept Consolidation
I was amused to come across a classic typo in the heading of an article today, which preached the benefits of ‘dept consolidation’.
The contents of the article made it clear that the subject matter was intended to read ‘debt consolidation’, but it got me thinking – there are probably businesses out there who are facing the choice of one or the other.
‘Dept consolidation’ would surely involve having to consolidate your department – ie your staff – into one smaller, affordable team to reduce your outgoings (sacking people!). Whereas ‘debt consolidation‘ could provide an alternative solution to a financial problem – arranging a consolidation loan to reduce the outgoings, allowing the wage bill to remain sustainable (not sacking people!)
Thus, the conclusion of my findings is that Debt Consolidation is better than Dept Consolidation.
May 23, 2008 at 11:32 am | Debt Consolidation | No comment
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Consolidation Escalation
A recent report, rather predictably, has concluded that an increasing number of people are turning to debt consolidation in an effort to control their spiraling debt problems.
More than 6.5 million people have taken a consolidation loan in the past three years alone.
Let’s hope this statistic reflects the growth in responsible attitudes to debt rather than a growth in the misconception that debt consolidation is just another way to spend other people’s money when the credit cards have dried up.
May 21, 2008 at 10:26 am | Debt Consolidation | No comment
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Carlsberg DO do Briding Loans!
When Carlsberg bought Scottish & Newcastle in a joint deal with Heineken, they did so using a bridging loan to finance the £7.8bn deal.
They have now announced a £3.2bn rights issue to repay the bridging loan.
May 19, 2008 at 5:09 pm | Bridging Finance | No comment
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4.9% From the Top and an Outrageous 8.5% Thereafter, Please Carol
I’m just going to admit it. I’ve always been a bit of a Carol Vorderman fan, even though that’s probably far from cool these days. But she does make it increasingly hard to defend her right to admiration while she continues to blaze a dusty trail of somewhat unscrupulous personal loan advertisements.
The latest advert in which she appears has been labeled a ‘debt trap’, encouraging vulnerable homeowners into unmanageable levels of debt.
The secured loan advert, for a company called ‘First Plus’, offers an attractive low interest rate of 4.9% for the initial 90 day period of the loan, after which the rate increases to a staggering 8.5%.
The lesson, as always, is to look out for such tricks and be fully aware of the complete terms of the loan before entering into any agreement.
May 18, 2008 at 2:11 pm | Secured Loan | No comment
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Personal Loan Sharks Target Facebook Geeks
Gullible teens, who’s skin tissue has now morphed with their chairs through Facebook addiction – leaving them with only ‘virtual’ friends, are being targeted by unscrupulous loan companies plaguing the antisocial networking site with dodgy personal loan ads.
Debt charity, Credit Action, claim that regular loan ads are targeting those with bad credit ratings through the geeky world of Facebook.
They urge these vulnerable individuals, who have lost the basic skills of real human interaction, to report any instances to the Facebook web site.
May 16, 2008 at 8:23 am | personal loan | No comment
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