Good Debt Consolidation Companies?

PlumoUK

Hi,

Please can anyone point me in the direction of some good debt consolidation companies please? I'm new to the site so please excuse my ignorance if there is already a page of companies with a particular forum.

Any help is greatly appreciated!

dancingfairy

You won't find many people preparedto recommenda debt consolidation company on here. This is mainly because a significant number of people who take out consolidation loans end up in a worse messthan when they started and they haven't dealt with the underlying issue(s) or overspending. Not only that but the only real winner(s) are the banks as they get more interest over a longer period of time and have you tied in, also they will try and get a secured loan (ie it is secured to your house) so if you default your house is at risk.
If you have debt problems you probably should have a chat with National Debtline, CCCS or your local CAB and seek their advice on the way forward.
Also have you done all the easiest/straightforward things - such as cancelling unused magazine subscribtions, old DD's for things, shopped around for all insurances etc etc? Also if credit card companies are hiking your interest rates up you have the right to reject the rate increase and continue to pay off you debt at the old rate (provided you don't spend on the card any more).
Best of Luck
df

Grumpelstiltskin

Plumbo As Dancing Fairy says do not touch any debt consolldation companies with a barge pole.

They are not the answer and many companies who advertise debt consolidation in fact only want to get you to agree to a fee charging debt management plan.

If you contact them they will tell you scare stories about the debt charities, they will promise you the earth but all they are are vultures preying on you because you are in debt.

Please start by reading this.

https://forums.moneysavingexpert.com/discussion/2077631

Then come back on here as the members will help you and point you in the right direction.