Consolidation challenge - help required

huntethan

Consolidation challenge - help required

Thrugelmir

huntethan wrote: »

we are finally in jobs where we can get ourselves out of debt but are stuck at the final hurdle.
Thanks in advance.

Then stick at it. Focus on paying down the debt owed. Debt consolidation rarely works. Not least because it's an easy way out (as far as the borrower is concerned anyway).

sourcrates

Hi,

Similar questions to this crop up all the time, from people hell bent on more consolidation loans when they are already up to they’re necks in debt.

How did you acrew £42,000 pounds worth of debt in the first place ?

Whatever the reasons are, have you changed your lifestyle and spending habits, so this does not happen again ?

Most people don’t, you see, and so end up in a whole world of even deeper debt, six months down the line, which is why this method never works.

I’m not trying to have a go at you here, far from it, been there myself, as have many on here, it’s just people become blinkered by the “credit bubble” instead of seeking proper help to get rid of their debts.

What you may want to do is post your SOA, and then take a good look at income/expenditure, and see where cuts can be made, and what debt solutions may be available to you, if appropriate.