Another Secured Lender Closes It's Doors For The Last Time.

Ever so often we all feel a little bit more hopeful that the economic gloom is lifting,only to have these hopes shattered when news becomes bleak again. One of the worste hit industries during the recession has been the finance industry in general with mortgages, remortgages and secured loans falling to well before their 2007 figures. Perhaps the biggest casualty of all has been the poor old securred loan, once such a healthy industry, now down over 80% on the level it was at prior to the recession.Secured loans otherwise called homeowner loans can be used for almost any purpose whether it is homeimprovements, to purchase a vehicle or to use the secured loan as a debt consolidation loan.  Lenders have ceased trading one after the other and household names such as First Plus are no longer trading. The latest in a long line of casualties is Link Loans which was forced to close it's doors last week due to being refused any additional funding. It makes one wonder  how much longer this recession will last.