Richard Johnson, Managing Director of Lewis Alexander Financial Management stated earlier today that it was "Not a Surprise" that the British consumer is so heavily troubled with personal financial problems.
For the last 5 years, Mr Johnson has personally advised clients NOT to secure their current unsecured debts against their homes. "All it takes is a rise in interest rates as we have all seen to make sharp rises in monthly mortgage repayments. People just look for the easy option when in fact the most economical ways of clearing personal debts are usually the most severe.
We are not suggesting that all people consider Bankruptcy or IVA arrangements or even Debt Management Plans. We simply feel that secured loans are only right for certain situations and the evaluations of these over the last few years could have been stronger!
The help is on hand for those serious about sorting their finances for good! The hardest part for people is making the first call for help. We understand that and are very sympathetic to the needs of our clients"
For the last 5 years, Mr Johnson has personally advised clients NOT to secure their current unsecured debts against their homes. "All it takes is a rise in interest rates as we have all seen to make sharp rises in monthly mortgage repayments. People just look for the easy option when in fact the most economical ways of clearing personal debts are usually the most severe.
We are not suggesting that all people consider Bankruptcy or IVA arrangements or even Debt Management Plans. We simply feel that secured loans are only right for certain situations and the evaluations of these over the last few years could have been stronger!
The help is on hand for those serious about sorting their finances for good! The hardest part for people is making the first call for help. We understand that and are very sympathetic to the needs of our clients"
