debt consolidation or advice

[daavedave]

i did a search for a consolidation loan,

im in a fair bit of bad debt and am looking to pay it off and im having difficulty working out what to do about it...

it would be easyest (probably not the most sensible way however) to get a loan to cover everything i owe and pay that off, but, i cant get a loan anywhere, ive tried a few and obvoisly my credit score is making me unable to find anything...

has anyone know of anywhere that does loans or any ivps etc, ive found a few companys but they all seem like a bit of a scam.. ie demanding money to proccess a loan?

[Ethel]

Do nothing until you have spoken to the National Debt Helpine - 0808 808 4000 and / or your local Citizens' Advice Bureau.

Both will get you free advice and help with your debts.

[haycal2008]

i agree with ethel, but just so you know someone who has been there i got into alot of debt when i was 18 and went with a debt management company all my debts are now clear. The service is good as they negotiate wiv your creditors to reduce intrest and you only pay a month what you agree youcan afford. There is a monthly charge for this service though and you ability to get credit is affected for 6 years although it is anyway when you have defults or ccj's. They deal with all your creditors and its nice when you keep getting demanding letters for them suddenly to stop. Do as ethel says though and seek independent advice first. Hope this helps

[bensmum]

I woudn't suggest going to a debt management company which charges a fee. As Ethel says go to CAB or try Consumer Credit Counselling Service who are very good.

[caggy]

hey there been in a similar situation. got worse and worse but i googled financial advice came up with a company called finanical helpline. my debt totalled �14000 and wasnt enough to take out an iva some am in a debt repayment plan. i give them money each month and they deal wilth all my creditors. plus side is they are really nice

[daavedave]

caggy, can you please tell me the name of the company you have have had this positive experience with? do they have a website?

[EverClean]

Dave

Use the free ones that ethel has suggested. They will do a similar/better job and not charge you for the privilege.

[haycal2008]

evergreen is right use the free ones, someone i know went to the cab they go though all your debts, contacting them all and negotiating payments on your behalf and all for free it really is a good service x

[haycal2008]

everCLEAN sorry;)

[Genesis]

Indeed, definitely use a free service. The Consumer Credit Counselling Service is very good. Some creditors will not be happy if you're dealing with a company that takes money from you for their service, as they will say that that money could be going towards the debt you owe your creditors.

http://www.cccs.co.uk

[caggy]

the company i am with is called finanical helpline and yup they have a website

[Howare]

Take a look at Martins money tips - the latest info on there has all the info you will need to decide which way to go. iva;s are not the right option - they cost money - anything from 5 to 7.5k
As already suggested - Natiional Debt Helpline or CAB are the best options to start with and its free advice .l

[LilyVO]

Check out www.RankFirstPro.com it is a new site that is really wants to grow so they have a payout referral program that will get you a lot of money if you are interested. GO to the site then click on the penny and click on make cash and watch the video. It is really a simple way to make a good money and might be able to get you out of your situation. Good Luck!

[terambulan]

All loans companies will charge high-interest rates; which I think are still 'unregulated' so can charge what they like.

Write to all your debtors and tell them you have caught a severe illness and promise to send each one �1pweek until debt is cleared. Beg them not to add interest until your health improves and can restore to a normal working life.

Debtors etc are all run by humans and dont want bad press. I also believe any Court would support you if u were seen to be trying to clear your debt.

p.s. Your severe illness could be ''''''runnng up debts'''''' and you could quote me as giving the prognosis!