My friend Marc is very poor in his financial management. I told him that since he is in the UK where he can gain from the currency exchange, he should make the best out of the opportunity.
He recently researched on bad credit secured loans as he wanted to take one out. I asked him why does he want the loan for and he told me that he wants to start a new business. I was rather skeptical about him starting a business. Business is so competitive I am afraid he will not survive.
Previously he also looked for mortgages when he wanted to buy a new home and he didn't do a good job of it. His interest repayment was very high and he wanted to remortgage but with his poor credit history, he could only qualify for poor credit remortgages.
I don't know how he is going to right his financial situation. I told him to consider debt consolidation but I am not sure if he will heed my advice.
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