need advice for paying off loans

joejoejoe11

hi

i have 5 payday loans, which im using to juggle each other, and2 old loans, i am thinking of using a site called debt-line.org.uk, at present i can juggle the loans around each other, but want to be free of the head-ache, do you think i should cancel my card, so money does not get taken and allow debt line to take them over. i know pay day loans are not there for long term, but i have ended in a downward spiral, and tired of not having any money left.

i feel cancelling my card and taking debt line on board to deal with them would be easier, thus leaving me more money to live on .. but want advice if this is right way to do it, and if anyone has used them or in the same boat.

thanks

BugsyBrowne

joejoejoe11 wrote: »

hi

i have 5 payday loans, which im using to juggle each other, and2 old loans, i am thinking of using a site called debt-line.org.uk, at present i can juggle the loans around each other, but want to be free of the head-ache, do you think i should cancel my card, so money does not get taken and allow debt line to take them over. i know pay day loans are not there for long term, but i have ended in a downward spiral, and tired of not having any money left.

i feel cancelling my card and taking debt line on board to deal with them would be easier, thus leaving me more money to live on .. but want advice if this is right way to do it, and if anyone has used them or in the same boat.

thanks

How much in total do you owe?

joejoejoe11

around 3-3,500 pounds, i tried a bank loan, but no joy

chalkie99

No - don't do it - they are just another commercial company preying on the public who will charge you fees you need not pay.

Get in touch with

https://www.nationaldebtline.co.uk or https://www.cccs.co.uk/ who will give you free help.

You could also speak to the Citiziens Advice Bureau (https://www.citizensadvice.org.uk)

paddyrg

In all seriousness, can you sell/pawn a load of stuff? Payday loans to the tune of £3500 will be costing you so much in interest each month, you need them gone! Even if you sell a bunch of stuff, repay the loans as fast as possible, then let yourself catch up with yourself, then buy replacement stuff/unpawn your pawn items. Is that possible?