PostHeaderIcon Borrowers paying off debts

Debt Free Direct Back Sharp Decline in Borrowers Using Loans for Debt Consolidation
Recent figures released this week from Sainsbury’s finance show that numerous individuals are choosing to avoid loans for debt consolidation, a finding backed by Derek Oakley, Insolvency Director at Debt Free Direct.

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Borrowers paying off debts
The supermarket bank says this may be an indication that many borrowers are choosing to pay off their debts rather than consolidate them. In 2007, one pound in every 13 taken out by Sainsbury’s Finance’s personal loans customers was solely for debt consolidation purposes.

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