Index Financial

More of the younger generations are seeking debt consolidation loans than their older predecessors.
Young Brits between the ages of 20 to 29 are most likely to receive a loan than the 30 to 39 age group- revealed a Halifax research survey.
Studies also show loan figures are much less of that which is sought in months other than January - with loan amounts in January being nearly double the amount of any other month of the year.
“For many people, the start of the year is a time to get personal finances in order - transferring debt from more expensive products such as store cards or other loans,” offered Neil Chandler, head of Halifax Unsecured Personal Loans.
According to recent findings, men are more likely than women to use a debt consolidation loan throughout the year. Conversely, however, women tend to carry less debt in general, than men.
The Consumer Credit Counselling Service stated that although many people seldom share information about loans with friends and family, it is highly advisable to do so. Sharing information on financial products can help others understand the availability and benefits of securing certain financial options.
If people were as willing to share financial information as they are recipes and sports scores, more people would not only be more educated on the subject, but they would also certainly feel more secure about their own financial positions.