Y5

Maxim is a new graduate and has found his first job working in the marketing department of a retail company. He has come to see you about his credit card debt that he acquired while he was a student. Maxim is not very good with money and he admits that he spends without thinking about how he is going to pay for it. He would like to get his spending under control and fully pay back his debts over the next 3 years to ease the burden on his cash flow. He asks you about an unsecured line of credit or an instalment loan. Which option would you recommend for Maxim? Why?