Visiting the town centers around the country, you can certainly feel the Christmas shopping frenzy escalating, hundreds of thousands of families in the UK, will take out a Christmas loan this year to help them through the festive season. The credit crunch has already trapped many Christmas loan applicants into a relentless cycle of debt as they borrow money and use credit cards to fulfill the 'Christmas Dream'. Reports show that over 4 million consumers are still repaying last year's Christmas loans, whilst adding to their debt burden this Christmas. Last year Christmas 2007 statistics show that it takes on average 5 months to clear their Christmas loans, after the annual festive spend.
Christmas loans this year 2008 will be harder to source as the continued “no confidence” culture in the banking world continues. JST Financial are a whole of market broker dealing with prime lender down to adverse credit lending, so JST Financial are in a perfect position to put you in touch with a provider of your Christmas loan, first time. JST Financial do not charge any fees, to apply and will not send you typical examples of loans which are unobtainable, they will however give you the best free advise for your Christmas loan shopping.
It is those families with poor credit histories who often suffer the most as they turn to loan providers who offer instant decision loans but with staggeringly high interest rates. The cheapest Christmas loans are not available to the unemployed or the poorest members of society who are forced to borrow money at the highest rates. A report by Save the Children suggests that 165,000 of Britain's poorest families turn to illegal lenders; loan companies who offer Christmas loans with no credit check but in return charge unbelievably high rates of almost 200% to cover the risk. An initial loan is usually paid almost three times over according to their figures.
Storecards add to financial stress, with interest rates on average causing customers to pay 62% more interest that that charged by the normal loan providers. It’s not all doom and gloom, however, as the Bank of England interest rate cut, causing mortgage holders to heave a sigh of relief. Let us hope that today's Merry Christmas will not prevent a Happy New Year.
Apply today it costs nothing, as JST Financial do not charge any broker fees to you the client.
Apply for a Christmas loan today and get the freedom you deserve! JST Financial offer a free service and we search a multiple panel Christmas loan lenders to get you the Christmas loan option available. Use our Calculator and see how much you can save.
Applying for a JST Financial Christmas loan couldn't be easier; it takes just minutes to apply using our short Christmas loan application form. Use the money as you wish or why not consider a debt management plan, IVA?