Money Mole Announce Plan to Avoid Financial Struggle through Loan Mismanagement

May 26, 2012 - PRLog -- A recent report from the Guardian has revealed that up to a third of people who take out further loans have experienced more financial difficulties as a result. Through their price comparison site, the team at Money Mole have extensive experience in helping online users with financial solutions and following this report have been prompted to announce advice on how to select the right lender.

“It can be concerning to hear that financial services designed to help those with monetary problems have in many cases actually made the situation worse, but partaking in your own personal research prior to selecting a company and following these guidelines can eliminate the chance of this happening.”

•   The team at Money Mole have expressed the advantages of finding the right unsecured loan. As well as enabling a person to begin to regain control of their finances, it can also provide mental relief during stressful times. In order to find the right company to assist with these financial problems, it is essential to find a provider who has a trustworthy and reliable reputation. The team have issued advice warning their users about companies who offer no details regarding terms and conditions, or information about borrowers’ rights and obligations.

•   The team at Money Mole have advised users of their site on the benefits of comparing interest rates between companies. The advantage of an unsecured loan is that it generally comes in at a lower interest rate than a secured loan, often with an APR of 6%. Whilst many firms vary it is worth bearing in mind that some companies have been criticised for high interest rates, so whilst assessing each lender, always keep this is mind.

•   It goes without saying but the financial specialists at Money Mole have taken the time to speak out against unofficial lenders. With such a high percentage of people finding themselves in trouble with untrustworthy loan providers, it is more important than ever to be aware of the dangers of approaching loan sharks, who rely on extortionate interest rates being aggressively enforced. The team at Money Mole maintain a price comparison site that puts its customers in contact with the most reputable companies in the industry.

Based in Essex and London, MoneyMole is one of the UK’s leading price comparison sites. Specialising in providing customers with access to experts from a range of financial services including the arrangement of secured loans, unsecured loans, re-mortgage, or life insurance, the company have a trusted reputation for helping people from a range of financial backgrounds.

For more info visit http://www.moneymole.co.uk/