ABCUL Recommends Personal Loans
In a statement of common sense the Association of British Credit Unions (ABCUL) has recommended that “consumers worried about debt problems and issues could be far better off taking out a personal loan rather than a credit card if they are looking to raise finance.”
The Association claimed that the “set repayments associated with personal loans made debt management and repayment far easier and more manageable for those worried about effective budgeting in relation to their debts.”
I guess the issue here is that everybody needs to tailor their personal credit to their own situation. Contrary to some of the negative press, using a credit card can be a very effective form of borrowing if used correctly.
(Via UK Personal Loan Store)
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