Avoid bogus loans companies: Cheap-Loans

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PR Newswire | 21 Jun, 2010
MANCHESTER (England): With the UK still finding its feet in the post-recession era, the demand for cheap loans as a temporary measure of financial parity has never been so substantial. Yet the demand has also spawned numerous bogus loans companies looking to cash in on those in vulnerable financial situations.

However, those in need of a loan can rely on Cheap-Loans.co.uk to provide impartial advice across the whole loans sector, whether you're a homeowner struggling with mortgage repayments, a student requiring additional cash, or merely looking to finance a new car purchase. No matter what personal circumstances you may find yourself in, Cheap-Loans.co.uk is a great place to start.

The website features in-depth explanations of secured and unsecured loans, with calculated breakdowns so you can weigh up just how they work, as well as payday loans for those looking for quick cash until the end of the month.

Daniel Brown, founder of Cheap-Loans.co.uk, says: "We know how people are feeling out there and the stigma surrounding bogus loan companies has left many of us feeling even more insecure when it comes to cheap loans â€“ and that's why we exist. We want to cut to the chase with all the types of loans available, setting the record straight and helping to restore confidence. We've had a great response so far."

Daniel also lent his support to recent Citizens' Advice warnings about bogus loans companies. Citizens' Advice Director of Policy Teresa Perchard, said: "In the recession loans can be hard to get and people falling into debt or unable to get mainstream credit are being targeted with ads and fraudulent contacts."

She added that some people have had their current accounts raided after applying for personal loans and were left paying unaffordable fees. Findings from Sainsbury's recently showed that an increasing number of people are taking out personal loans to pay for their children's education.

If you need impartial advice on loans and exactly what they entail, visit www.cheap-loans.co.uk.