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Consolidate my debts?
WuBu_2
Posts: 8 Forumite
I tried applying for a loan which I could not get and I heard about debt consolidation but I seems I may need to a property to secure the loan against and I live with with parents. Is there any way to go in regards to reducing my monthly payments on everything I owe?
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Wubu
Consolidation rarely works. If you. Don't have property to secure you will end up on a high aor loan like mine at 24.9% apr. I will end up repaying 3 times the amount I borrowed.
How bad is it? I presume you are still up to speed on payments. Can you look at posting a statment of affairs so we can all help you out before you have to go down this route
http://www.makesenseofcards.com/soacalc.html0
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