Expectations of another interest rate cut, by the Bank of England, have led to a sharp rise in UK share prices. It is anticipated that the cut will be replicated by the European Central Bank and the US Fed.
This news will be welcomed by many UK homeowners, struggling to maintain mortgage payments, whilst trying to keep up to date with repayments on personal loans, credit cards and other forms of unsecured debt.
Recent interest rate rises, coupled with the credit crunch, reducing the availability of consolidation loans, have led to an increase in the number of consumers entering a Debt Management Programme or an IVA as a solution to their financial difficulties.
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