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This can be a long and complicated task, particularly because much important information is only reproduced in the small print.

The most important benefit of is that it can offer a fresh start on the road to more healthy personal finances. This means you may have less flexibility and more to lose if you don't keep up your repayments. We discuss the use made of each type of product in more detail below. In such cases lenders should be in no doubt as to the affordability of repayments before granting credit.

The gut reaction when receiving a nasty letter with your credit card bill or bank statement may be to cut your credit card or cash card in two. Many companies give it free, others may charge.

Consumers may not understand that there are alternatives (eg critical illness insurance, personal savings) and that, if they have the means, they can pay for the premium in cash. Borrowing money is not free. Our surveys showed that consumers do not generally shop around, whether to compare providers or to compare products. The earlier they know about the problem, the more sympathetic they're likely to be. cheap rate loan List the people you owe money to, when you owe it and how much you can afford to pay back each month.

Several lenders mentioned that the documentary evidence sought depended on an assessment of risk.

The initial amount you borrow is called the capital. Contact your lenders, creditors and anyone else sending you red bills as soon as possible. We welcome this change, which should reduce one of the obstacles to shopping around, and we will reappraise the situation after the new procedures are instituted.