It seems that the penny - albeit a borrowed one - still hasn't dropped for some people regarding the purpose of a debt consolidation loan. These kind of loans exist to help you find a way out of debt - they are not intended to be another avenue for running it up.
As the Chief Executive of MoneyExpert.com, Sean Gardner, says: "it is crucial that borrowers see consolidation as a wake-up call to get debts under control. It shouldn’t be something you keep on doing simply to tide you over from year to year.”
