UK personal debt swelled to a huge £1,456bn in November 2008 – proving more than ever that the unsecure debt bubble must be let down gently before it pops.

According to the charity Credit Action, this huge was an increase of £56bn on 2007 figures – meaning personal debt has now forged ahead of the UK GDP.

The only way people are going to be able to control this unrelenting mountain of debt is by consolidating and taking sensible steps towards securing and controlling the red.

Worryingly, the daily increase in UK debt is now a whopping £154m, with one person every 4.8 minutes being declared bankrupt or insolvent - and that’s no surprise when you find out that the UK is paying £252m in interest alone.

This has to change, and it can. If you are one of those who are part of this huge debt, take steps to secure all your responsibilities with a secured loan – you will find almost immediately that your life is much better knowing you are not paying nearly as much as that daily £252m. You will also be able to sleep a little better knowing your house will be safe, and you will not be one of the nearly 300 made bankrupt every day.

Debt is an ever-growing, dangerous thing. Don’t let it control you – control it instead with a secured loan.

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

New research carried out for the Bank of England's Q4 2008 quarterly bulletin has found that households in the UK have experienced a reduction in disposable income after meeting household bills.

The report also found that many households were finding their debt to be a burden, and were finding increasingly harder to find a way to manage that responsibility.

Simon Lamble, product director at Confused.com, says: "The pressure on household income has been increasing steadily over the past couple of years, and therefore it's more important than ever for people to realise that there is a simple way to relieve some of that pressure, by exploring ways of reducing their fixed household costs.”

One such way to relieve pressure is to consolidate your debts by using a secured loan. Taking a lump sum from your property and using it to turn all your debts into one manageable payment can almost certainly lower your monthly outgoings and free up your budget.

If you think you need something to unlock your financial problems, talk to an adviser about taking out some of your home’s equity as a secured loan. It’s quick, it’s simple and it can give you a little more space to think and breathe in 2009.

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

More and more Christmas shoppers are turning away from credit, and instead using cash to pay for their gifts and celebrations.

According to Halifax, 71% of consumers will pay for Christmas this year out of their hard earned cash, while only over a third will use a credit card.

It also found that one in ten will use a store card and only 5% will use a loan to cover the cost of their Christmas spending. The average amount of unsecured debt this Christmas stands at £449.

Mike Regnier, Halifax head of banking says: "It's encouraging to see that more consumers are becoming prudent with their finances this year by choosing to use their savings, monthly income and cash to pay for their Christmas purchases, rather than opting for costly store cards which could see them paying out more in the long run."

It’s great news - more people are shying from dangerous, expensive unsecured debt to cover their spending. If you think you need unsecured debt to cover costs, think again. There is nothing worse than unsecured debt to get you further in financial difficulty.

Those who do choose to stack up plastic will only regret it - having to remortgage, use your home’s equity or even face repossession is something no one chooses to do. Thinking that ‘spend now, pay later’ is still a good strategy could be financial suicide as the UK goes into a recession.

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

If you are thinking of burning plastic this Christmas, try to think of how bad your financial hangover could be in 2009.

Moneyexpert.com has found that the number of people applying for interest-free credit cards surged by more than 15% in November as cash-strapped shoppers rushed to put Christmas on plastic.

Even so, its research also shows 30% of adults are concerned about their ability to manage their personal debt and that 27% of those owing money have gone further into the red in the last three months. This is thanks to 0% cards that allow them to spend, spend, spend before they are hit with hefty repayments later on.

Around 4% - equivalent to nearly 1.8 million people - have increased their debts by more than 20% in just three months, says the website.

Sean Gardner, director of MoneyExpert.com, says: "It can make financial sense to cash in by taking out interest-free cards and then paying them off. But Christmas tends not to be a time for sensible financial planning and the UK economy has been detached from reality for quite a while now.

"The fear must be that people are having one last turn on the credit card merry-go-round before it comes grinding to a halt."

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

If you are considering taking out a pay day unsecured loan as a means of quick, easy credit beware - some annual rates can top nearly 10,000%.

New research from uSwitch.com reveals that a consumer borrowing £750 from a pay day loan company could end up paying back up to £1687.50 if they defer repayments for a total of five months.

With some APRs reaching 9889.3%, this type of loan could be one of the most expensive available in the UK today.

This is obviously madness - no one should risk such high rates of interest, especially if they are struggling to make ends meet.

Even though many unsecured debts carry rates well below 10,000%, secured loans are the cheapest option for financial aid. Many secured loans’ rates mirror mortgage rates, and carry penalties and charges as reasonable as any home loan.

Unsecured debt, by its nature, can also lead to the borrower slipping further into debt - especially with rates like these. With a secured loan there is no such fear because everything is above board and monitored by the Office of Fair Trading. Many secured loan lenders also adhere to strict self-regulatory rules.

Pay day loans are the last, desperate option that will lead to further financial pain. If you need help, get professional help and steer clear from unhealthy, uncompetitive unsecured debt.

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

More and more consumers who have debt problems are turning to unsecured credit in an attempt to get by.

PriceWaterhouseCoopers have found that more than one in four people are worried about their ability to repay debts in the future and so are turning to easy-accessible credit.

But the accounting specialist found that very few of the 16% already struggling to repay are considering how to deal with these debts.

One in five respondents in PWC’s credit confidence survey of nearly 4,000 people said they were worried about the shrinking availability of credit.

This is a bad habit that cannot be carried on. People who are in financial difficulty should never use personal loans and credit cards. It might be easy, and it might sort out problems in the short term, but it the long term it only makes matters worse.

Talk to an adviser if you are in trouble. They will give you real options and real possibilities that do not involve more debt. Only secured, safe debt can help you out trouble. Credit cards, store cards and loans will only make the hole deeper.

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

Eighty per cent of Britain will spend less on Christmas than they did last year, as debt and mortgage problems swamp the nation.

According to the Institute of Customer Services, women will be guarding their purse strings more tightly than men, but all age groups, regions, incomes and professions in the survey have shown their concern over the economic downturn.

However 20% said they would spend more during the festive season than a year ago, in the new Christmas spending poll of almost 12,000 people.

Although it’s good to see people are putting their debt priorities first, many of the 20% who have decided not to curb spending in the run up to the holidays may risk extending their debts with frivolous buying.

David Parsons, ICS chief executive, says: “Christmas is the busiest time of the year for many, so this trend will make for worrying reading.”

If you are considering unsecured debt as a means to fund shopping for Christmas, think again. Although there is a lot of pressure to spend at Christmas, especially for those with children, unsecured debt is bad news and must always be avoided.

Credit cards, store cards and personal loans may help in the run up to December 25, but once 2009 comes round you might find yourself unable to manage mortgage repayments, debt repayments and rising interest.

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

With the average house price having increased over the last ten years, homeowners can use the new-found equity in their homes to pay off debts, fund home improvements, or even finance unexpected long-term expenses. This can be done through an equity home loan UK, which is a form of secured loan. If you are interested in using the value of your home to improve your lifestyle or your finances it may be worth considering an equity home loan UK. As well as helping you build a new extension, swimming pool or patio an equity home loan UK can be used to buy a car, go on holiday, pay for a child’s education, renovate a home or even buy a boat. If you are interested in an equity home loan UK it's a good idea to shop around as well as work out how much you should borrow, so read on to find out more.

Learn more about the Equity Home Loan UK

Many homeowners have seen the value of their home increase dramatically over the last ten years, so it’s a great time to move. But at the same time moving has never been so expensive – buyers now need to put down nearly £28,000 just to move*. So when it comes to moving home you may feel like it’s too much – this is where a secured loan for home owner can help. With this, you can use the equity in your home to pay off debts or get to grips with any unexpected expenses that come with moving home. A secured loan for home owner allows you to use the value of your home to find that money to move to that dream property.

Read more about getting a Secured Loan for Homeowner

Its a daunting proposition, you have poor credit and it seems there is nowhere to turn, everything is closing in around you and no one can help. Well you can help yourself by using the equity in your property to apply for a poor credit secured loan. A poor credit secured loan can be used by those with poor credit to get them out of trouble and to improve any financial situation. This may not sound logical to you, taking out another debt to help with your current debts, but it is a viable option with the help of an adviser and the right loan.

Read more about the Poor Credit Secured Loan