Welcome to the new Debt Questions forum. Feel free to say Hi and tell us a little about yourself.

Moderators: TalbotWoods, JaneClack

By massey
#222396 Hi I have heard good things about this forum and just want to see if anybody can help me.

A few years ago (young and very foolish) I got into debt over my love of nice cars. I now no longer have the cars and on top of a few other debts I am in a financial mess.

I have been working very hard for the last 2 years now to pay off as much as I can and have managed to reduce my debt from 24K (a year and half ago) to 9K as it stands today.

Lately however my family and I have had unbelievable bad luck with domestic appliances and cars breaking down.

On top of this we have had to take on a childminder for our young son 3months ago and this has tipped us over our limit.

Before this we were living right on the edge of our income but now we are incurring more and more late fees and bank charges as the months go on.

I have a fairly well paid job but until I can clear some of my debt we live a very poor quality of life.

If i could consolidate my debt into one payment it would make the world of difference.
My credit rating is now very poor and so nobody has been able to help me.

My debts are secured (Hire Purchase agreements etc) and that 9K is costing me 1K a month!!

Can anybody please offer some advice.
By royston
#222420
massey wrote:Hi I have heard good things about this forum and just want to see if anybody can help me.

A few years ago (young and very foolish) I got into debt over my love of nice cars. I now no longer have the cars and on top of a few other debts I am in a financial mess.

I have been working very hard for the last 2 years now to pay off as much as I can and have managed to reduce my debt from 24K (a year and half ago) to 9K as it stands today.

Lately however my family and I have had unbelievable bad luck with domestic appliances and cars breaking down.

On top of this we have had to take on a childminder for our young son 3months ago and this has tipped us over our limit.

Before this we were living right on the edge of our income but now we are incurring more and more late fees and bank charges as the months go on.

I have a fairly well paid job but until I can clear some of my debt we live a very poor quality of life.

If i could consolidate my debt into one payment it would make the world of difference.
My credit rating is now very poor and so nobody has been able to help me.

My debts are secured (Hire Purchase agreements etc) and that 9K is costing me 1K a month!!

Can anybody please offer some advice.



Welcome to the forum massey

Consolidating a debt isn't really the best way to go, in my opinion anyway. All you are doing is still repaying with interest on top.

Have you considered contacting PayPlan or CCCS for advice? I feel it may help you decide what the best way to resolve this problem will be.

Good luck with whatever you decide.