Has anybody recently consolidated their debts - was it difficult to get a loan?
And, did everything work out for you : I really need advice. Thank you
Answers:
Be careful, there are alot of financing companies that love to do this and tie people into long agreements that make the monthly outgoings look alot cheaper, but in the end the total sum you may pay back will be ALOT more. If you own your home, it may be better to remortgage, as the APR's on a mortgage are usually the cheapest you can get. If not, go and see citizens advice, as they are very good at debt problems. If you're having problems in paying your existing credit, it is worth contacting your creditors to see if they will change your payment for a while.
Good luck
why dont you get in touch with your local citizens advice bureau or a good bank, the c.a.b. is very useful and would help you more than these debt companies you see in the papers, they take a large percentage, you need something you can afford each month.
If you are in debt, go and speak to Citizens Advice before taking out any further loans. Consolidation loans only add to the length of time you are in debt and does your credit history no good whatsoever, take advice first, its free
Go to the CAB and get advice from them, they'll give you the best advice !
Not sure if you are looking for a debt consolidation loan or a debt consolidation place that actually combines your bills for you in one monthly payment (not a loan but they lower your interest or eliminate your interest alltogether). If you can get a debt consolidation loan - you are better off doing that. A debt consolidation - the one that combines your bills does not negatively affect your credit however a lot of creditors look at that as you taking the easy way out basically so it's not a great thing to do. I say if you have a lot of debt - ALOT that is, then maybe do the debt consolidation. If its minimal debt 5000 maybe try getting a debt consolidation loan, or better yet just pay as you go - put 300 here and there till you get rid of it. That's what I'm doing now
Talk to your loan companies first. They will sometimes do a deal for you. Consolidating is good, just remember to put away the money you save in a rainy day fund. That way you will not have to borrow again. Pay the loans off, live a longer happier life.
First stop is to spend time talking to people you owe money to and come up with a monthly plan you can afford.
But be wary of these daytime tv ads offering to consolidate. Initial interest may look good, but often rises sharply.
Also some will sell your debt (Ocean Finance - guilty as charged) and you'll have a ridiculous amount to pay to a completely different company who may have harsher penalties and then there's the knock at the door.
Most people are happy to set up plans if you talk to them, and *always* open bills, they don't go away. Good luck.
I recently consolidated 4 student loans, a house loan, and a car loan. No it was not difficult for me to get another loan after that, it was easy for me to do . Everything worked out fine I still have everything.
Hi
My friend was in trouble with their debts and they used a Company called Byrom & Keeley, their web site is http://byromandkeeley.co.uk , the best contact I am told is Andrew Kilmartin
Hope this helps
Steve
It was a painful experience that was not worth it. It took MONTHS for the consolidation to be finalized, and all the while, based upon THEIR advice, we didn't pay our credit bills. So of course, our situation (including credit scores) got worse, the calls continued, etc.
When the agreements were all finally in place between the debt consolidation firm and all of our creditors, we were treated as if we had declared Chapter 13 Bankruptcy!! We were turned down flat for the few loans we requested, including a used car loan.
Avoid it if at all possible.
Looking For the Debt Settlement Program Thats Right For You
By: Jason Niesen
My wife and I used a debt agency and it worked for a while. Then when we could take over ourselves.we did. This article can give you some insight to what you need to do.
Good Luck
I did and it was easy. Africa Bank on the net. Got a lone the same day and the cash.
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Answers:
Be careful, there are alot of financing companies that love to do this and tie people into long agreements that make the monthly outgoings look alot cheaper, but in the end the total sum you may pay back will be ALOT more. If you own your home, it may be better to remortgage, as the APR's on a mortgage are usually the cheapest you can get. If not, go and see citizens advice, as they are very good at debt problems. If you're having problems in paying your existing credit, it is worth contacting your creditors to see if they will change your payment for a while.
Good luck
why dont you get in touch with your local citizens advice bureau or a good bank, the c.a.b. is very useful and would help you more than these debt companies you see in the papers, they take a large percentage, you need something you can afford each month.
If you are in debt, go and speak to Citizens Advice before taking out any further loans. Consolidation loans only add to the length of time you are in debt and does your credit history no good whatsoever, take advice first, its free
Go to the CAB and get advice from them, they'll give you the best advice !
Not sure if you are looking for a debt consolidation loan or a debt consolidation place that actually combines your bills for you in one monthly payment (not a loan but they lower your interest or eliminate your interest alltogether). If you can get a debt consolidation loan - you are better off doing that. A debt consolidation - the one that combines your bills does not negatively affect your credit however a lot of creditors look at that as you taking the easy way out basically so it's not a great thing to do. I say if you have a lot of debt - ALOT that is, then maybe do the debt consolidation. If its minimal debt 5000 maybe try getting a debt consolidation loan, or better yet just pay as you go - put 300 here and there till you get rid of it. That's what I'm doing now
Talk to your loan companies first. They will sometimes do a deal for you. Consolidating is good, just remember to put away the money you save in a rainy day fund. That way you will not have to borrow again. Pay the loans off, live a longer happier life.
First stop is to spend time talking to people you owe money to and come up with a monthly plan you can afford.
But be wary of these daytime tv ads offering to consolidate. Initial interest may look good, but often rises sharply.
Also some will sell your debt (Ocean Finance - guilty as charged) and you'll have a ridiculous amount to pay to a completely different company who may have harsher penalties and then there's the knock at the door.
Most people are happy to set up plans if you talk to them, and *always* open bills, they don't go away. Good luck.
I recently consolidated 4 student loans, a house loan, and a car loan. No it was not difficult for me to get another loan after that, it was easy for me to do . Everything worked out fine I still have everything.
Hi
My friend was in trouble with their debts and they used a Company called Byrom & Keeley, their web site is http://byromandkeeley.co.uk , the best contact I am told is Andrew Kilmartin
Hope this helps
Steve
It was a painful experience that was not worth it. It took MONTHS for the consolidation to be finalized, and all the while, based upon THEIR advice, we didn't pay our credit bills. So of course, our situation (including credit scores) got worse, the calls continued, etc.
When the agreements were all finally in place between the debt consolidation firm and all of our creditors, we were treated as if we had declared Chapter 13 Bankruptcy!! We were turned down flat for the few loans we requested, including a used car loan.
Avoid it if at all possible.
Looking For the Debt Settlement Program Thats Right For You
By: Jason Niesen
My wife and I used a debt agency and it worked for a while. Then when we could take over ourselves.we did. This article can give you some insight to what you need to do.
Good Luck
I did and it was easy. Africa Bank on the net. Got a lone the same day and the cash.
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