Credit/store card debt...help

A1450J

I have a friend that has got themselves into a pickle, and im hoping that someone could give me some advice on the best way for them to clear this debt, however long it takes!
They do not have a good credit rating and they are finding it hard to clear it without borrowing more money, they have 2 credit cards both with £1500 on each, a store card with £900 on it, an overdraft of £1000, and owe family another £2000.
I am trying to find out if they would be able to consolidate all the cards into one monthly payment that is interest free for so many months, is there anyone that could guide me in the right direction, which card they would be able to possibly do this with?
Please and Thank you

Aquamania

A1450J wrote: »

I have a friend that has got themselves into a pickle, and im hoping that someone could give me some advice on the best way for them to clear this debt, however long it takes!
They do not have a good credit rating and they are finding it hard to clear it without borrowing more money, they have 2 credit cards both with £1500 on each, a store card with £900 on it, an overdraft of £1000, and owe family another £2000.
I am trying to find out if they would be able to consolidate all the cards into one monthly payment that is interest free for so many months, is there anyone that could guide me in the right direction, which card they would be able to possibly do this with?
Please and Thank you

My advice is it's probably not a good idea for someone that has a history of financial troubles to think that borrowing more money to settle existing debts is the way to become debt free.

Ask your friend to sign up to MSE themselves (as you found it's easy & free) then they can post on the Debt Free Wannabe board if they are really interested in becoming debt free

Or suggest they seek financial advice from a FREE debt advisory charity (The CAB offer such a service, as do others) rather than someone who needs to resort to the internet to seek unprofessional advice to help their friend.

A1450J

Thanks for replying,
I have also told them that borrowing more money is not the way to clear the debt, I have sent them the link to MSE page as I have found it very helpful in more ways than 1 and saved myself about £600 a year on different things:T


They were not aware I was asking for advice on here, I'm doing it because they have asked to borrow the money from me, I am very lucky to earn good money and have some savings, but I know I will never see the money again if I lend it to them, I want to help them but don't want to lose my rainy day fund in the process, I was only trying to help them, and I will explain about the CAB, now I feel like ive been told off for trying to help someone I will stick to the main pages rather than the help pages.