A spokesperson at thinkmoney.com has spoken of the reduced availability of the secured loan, as a result of the credit crunch. There are still, however, a range of personal loan solutions available to those who find themselves in financial difficulty.
"Depending on the individual's circumstances, a number of other debt solutions may be more appropriate than a secured loan, such as a debt management plan, an unsecured consolidation loan, an IVA (individual voluntary agreement) or, for residents of Scotland, a trust deed," said the spokesperson.
