If you are having a tough time keeping up with all your financial demands, maybe it’s time to consider consolidating some of your debts using a secured loan.

According to moneysupermarket.com, more than three-quarters of Brits struggle to pay their utility bills; it’s getting so bad that one in six people is left shivering as they can’t afford to heat their home this winter.

Scott Byrom, utilities manager at moneysupermarket.com says: “Our research shows that people are now resorting to drastic measures by not turning on their heating at all because they can’t afford it. It’s clear to see that sky-high energy bills have been far beyond what people can afford.”

Many of these people may not be able to pay their bills because they are over-stretched: maybe they have a few credit cards, a store card or two and even some personal loans. All these things can add up, especially with little chance of a pay increase or bonuses this year. That’s why, if you are at home shivering because your gas bill is the final straw, you need to consider consolidation.

Using some of your home’s equity you can pay off all those debts, leaving you with your mortgage and a secured loan to meet at the end of the month. This will give you space to save, room to breathe and some extra money to afford to turn up the radiators and start living a decent life again.

SOURCE: Moneysupermarket.com, 30/01/09

To keep up with the latest news and comments on current financial affairs please visit the Secured Loan Blog.

Related posts:

1. 2009 Resolution | Consolidate Those Debts
2. Consolidate: Don’t Put Off Debt
3. Household Budgets Tighter Than Ever