consolidation loans and who offers them?

hivez

Hey all,

I have recently had a debt collector come to my mothers house for a debt which spiraled out of control from £80 to £360 due to my own fault of not being able to repay it, I have now managed to pay this off and I am trying to get ontop of my debts with a hope to becoming debt free soon, so althuogh this debt was shocking for me it has been a good thing as it has given me a kick up the behind to get it all sorted,

I have around £2400 debt in total and I have listed all my debts, who I owe money too and arranged payment plans to those who I do.. now I owe debts to various debt collectors I am ok with this and can cope with my monthly payments however it would be alot easier to owe it to one company and alot more manageble in my own mind,

My question is, given the current ecominical climate and the fact I owe quite a bad credit history, do any of you guys know of a debt consildation loan company and more so do you know of any of these who will help you do this and not look at you as another money making customer... I dont just want a loan bassicly I want a loan for my debts which is reasonable rate,

I am lucky in the fact I have recently started a job at 32k a year so I can pay my debts and want to sort this out, I cant imagine how nice it would feel not to be in debt and would love to consolidate it all into one,

equita was the company who I owed money too and they was very aggresive, bassicly saying we only have your perants address so regardless of wether you live there or not we are going to remove goods... so this was a very bad experience for me and very stressfull but I do actually thank equita in a way becuase now I am going to work very hard to become debt free...

Any advice thanks in advance

bargainbetty

Most people on here would advise you not to take out a consolidation loan until you have got your spending firmly under control and all your bills are reduced to their minimum. Why? Because lots of us (me twice) have done what you are suggesting and then run up the credit cards again.

Sort out an SOA to ssee where your spare money goes. See if you can obtain lower interest rates (a phone call can't hurt to each creditor) and think about applying for a different credit card to get lower balances - but cancel any card you clear as you clear it to remove your available debt.

Consolidation does not remove your debt. You will still be in debt. And you will possibly end up paying more for this debt and having more!

Good luck

hivez

Hey i appreciate your responce however I dont have any credit cards currently and I certinally will not be running up anymore debt if I did get a consolodation loan, its merely down to when I got in debt I didnt have a reasonable income, now I do I just want to owe one company the money... so your reply makes sense however I do want a consolodation loan and can deal with it... say for example i was to get a consolodation loan, do you know any good companies for this? thanks.