The Loan.co.uk team is showing borrowers how to manage debt and when required use borrowing in a responsible manner to restructure their personal finances.

Loan.co.uk has announced the release of their responsible borrowing guidelines. The master broker is on a mission to show borrowers in need of funds how they can use financial products more responsibly and avoid the financial trouble that consumers sometimes find themselves in.

‘Reset the Debt’ is a code of responsible borrowing setting out the expectations of responsible borrowers and is for anyone thinking about taking out a loan to restructure their personal finances. It is part of a major effort to improve consumer financial literacy by educating thousands of existing and potential customers on how to borrow safely and manage their borrowing.

Paul McGerrigan, CEO of Loan.co.uk says; “Being in debt can be a stressful and daunting time, and now more than ever, we need to demonstrate that the industry is not only able to lend responsibly and transparently in line with FCA standards but to protect against customer over-indebtedness. The other important half of the “client protection equation” is responsible borrowing – that is, making sure that our customers know how to borrow safely.”

With the average UK household now owing a record £12,887, most UK families have debt of some kind, and collectively we spend more than we earn. ‘Reset the debt’ will help consumers understand how to manage their personal finances and avoid, over indebtedness.