consolidation???

desperate_housewife_4

Has anyone considered consolidating cc debt? would like advice please. Have around 13,000 on cc and trying to find best options.

_Andy_

Not really enough detail - not sure what advice you're after.

_Andy_

...or perhaps some company that isn't desperate enough to spam on these forums.

Dave_T_7

I would always recommend going to your bank in the first instance. Consolidation can be useful, as it gives you an end date to your debt, as opposed to the rolling credit cards. The thing you need to make sure of is that when your balances are 0, you get rid of them, possibly just keeping one for emergency use, otherwise you could end up in the same boat in a few years and have to top up your loan again.

If you don;t want to go through your bank, try a site like moneysupermarket.com, they have all the major providers on there and you should be able to find one that is suitable.

nomoneytoday

Consolidation 9 times out of 10 is a waste of time. Unless you solve the source issues behind the debts, all you are doing to restructuring to pay more over a longer period.

The exception is if you can get a lower rate, over a shorter/same period with no penalities.

iolanthe07

You need to address why you are overspending before you go down the consolidation route, or you'll most likely end up doing it all over again in a couple of years' time.