2006-06-30 09:52:12 · 9 answers · asked by Rodney 2 in Business & Finance ➔ Credit
Contact the Consumer credit counselling service who will work with you to create a debt management plan and they will take over all contact from your creditors,and collect a managable small payment and distribute it amongst your creditors...NB The Consumer Credit Counselling Service is a charitable organisation so will not charge you for their services
2006-06-30 10:02:24 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The easiest way is to seek financial advice with a debt management company your local citizens advice bureau should be able to put you onto one.
2006-06-30 16:58:07 · answer #2 · answered by ? 5 · 0⤊ 0⤋
Don't do bankruptcy. Be responsible for your actions - you spent that money! Pay them off as much as you can. Snowball - take all your debts and pay minimum payments on them, while paying extra on the money with the highest interest. Once that one is pay off, do the same over and over again, until they're all paid off.
2006-07-01 14:17:44 · answer #3 · answered by Megan R 2 · 0⤊ 0⤋
I agree - pay them off. To get expert help , if you are in the UK, contact the Citizen's Advice bureau. They are really helpful and can advise if bankrupcy is best for you and if not help negotiate with your creditors so that your debt can be paid off in smaller chunks.
For further information on what they could do for you : http://www.adviceguide.org.uk/index/life/debt.htm
2006-06-30 17:00:21 · answer #4 · answered by lyonesseuk 3 · 0⤊ 0⤋
Buy property and secure the loan(s) against that.
or
Plead with them to reduce the interest charged to a level that would not bankrupt a odgy African state
2006-06-30 16:58:36 · answer #5 · answered by Owen Money 2 · 0⤊ 0⤋
Don't be afraid to talk to your lenders.
Work out how much you can actually afford to repay, and see what they say. They might not like it but they have to help you for fear you will default on the whole debt.
2006-06-30 17:01:32 · answer #6 · answered by 'Dr Greene' 7 · 0⤊ 0⤋
If it is really all that bad I've heard bankruptcy is easy nowadays. If you go for it I'd advise you to find out ALL about it first.
2006-06-30 16:57:56 · answer #7 · answered by fieldmouse 3 · 0⤊ 0⤋
Pay them off. 2nd best is bankruptcy.
2006-06-30 16:56:04 · answer #8 · answered by BonesofaTeacher 7 · 0⤊ 0⤋
bankruptcy.
2006-06-30 17:43:54 · answer #9 · answered by Anonymous · 0⤊ 0⤋