Help plz

Sallz

hey,
i am at rock bottom, i am struggling to even pay the minimum payments on my credit cards, i am making all payments for bills etc and my loan but its leaves me with £60 a month to live on and to fuel my car which i need for work, so i need to face up i either need to go on a DMP or get a secured loan, i have a lot of equity in my house but remortage isnt an option, please can anyone advise which is the best route dmp or secured loan..

thanks

Tixy

Hi

It depends on your situation, whether your circumstances might chance (for better or worse) etc.
Personally I would suggest trying to avoid the secured loan route as you put your house at a greater risk if you should lose your income for any reason.

Have you prepared a statement of affairs at any point - to see how much you would have left for debt repayments after normal living expenses? http://www.makesenseofcards.com/soacalc.html If not this is probably the best starting point.