2006-09-17 22:54:36 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I would consolidate it all by "selling the debt" to some
clever company with whom you can discuss a better interest rate, they pay your debt off for you then you just pay them, they get some good interest, you pay a lower interest... both win.
But you don't want to trust just about anybody, read up on it, get ammo first then it'll be easier, here you'll find tons more info than I could possibly
post here. It'll take a bit but it's your money and well worth
taking your time over it
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!
2006-09-18 13:29:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
30000 pounds may still be manageable by you - the fear is it may increase till it is beyond you if you do not take the corrective actions.
Suggest you work on a plan to reduce the debt - by paying back (highest interest rate debt to be paid first) as much as you can by spending as little as you can. It works only if your repayment is faster than the interests. If that is not possible, either approach the creditors for debt reduction or consider going bankrupt. Bankrupcy comes with its own constraints that you may have to live with. However, bankrupcy is not forever.
2006-09-18 07:22:34 · answer #2 · answered by Jacob Gan 2 · 0⤊ 0⤋
are you a shop-aholic? if you are, then there might be something deeper in your life and/or relationship which you are not happy with and the shopping is something to relieve part of your unhappiness. If this is the case, you need to talk to a counsellor to find out what it is so that you can cure the cause of uncontrolled shopping.
Otherwise, cut up all you plastic cards, sell all stuffs you don't need on ebay to get back cash, then have a budget and stick to it.
It also helps if you have some goals such as savings for a deposit on a home etc. You can work this out with all members of your family involved.
2006-09-18 06:20:43 · answer #3 · answered by Peter_F 3 · 0⤊ 0⤋
see a financial adviser but ide just go bankrupt this will clear all you known debts, but you will have to pay for eveything up front for 7 years, so what!, other wise youll be paying it off forever, just learn from your mistakes you cant go bankrupt twice.
2006-09-18 06:06:58 · answer #4 · answered by no onions please!!! 2 · 0⤊ 0⤋
Stop buying unnecessary stuff
Pay more than the monthly premiums
Save money to make purchases, dont buy on credit.
2006-09-18 05:58:14 · answer #5 · answered by Claude 6 · 0⤊ 0⤋
Embezzle from the grocery budget.
Seek out credit counselors.
2006-09-18 06:04:59 · answer #6 · answered by ed 7 · 0⤊ 0⤋
Cut the credit cards up!!!!!!!!! If you don't have the cash to pay for it up front it means you can't afford to get it. So leave it unless you absolutely need it.
2006-09-18 06:04:58 · answer #7 · answered by secret c 1 · 0⤊ 0⤋
Check out this web site for advice:
www.crown.org
www.DaveRamsey.com
Get on a budget and spend less than you make.
2006-09-18 06:02:56 · answer #8 · answered by N3WJL 5 · 0⤊ 0⤋
Stop spending money you haven't got.
2006-09-18 06:02:11 · answer #9 · answered by Ellie29uk 3 · 0⤊ 0⤋
i dnt undastand ppl hu r in debt so much!!!
2006-09-18 06:03:48 · answer #10 · answered by Carefree? Noway! I wish! 4 · 0⤊ 0⤋