Debt management companies

Meow_35

Hi,

Has anyone used a debt consolidation company to do this? I had a guy out from Moneyvillage last year and after spending about an hour going through all my details, it was looking like something I'd be interested in doing but then I asked him if it would effect my credit rating and he said yes it does for 4 -5 years.

At the moment I have 3 credit cards and a bank loan - plus a mortgage and I'm renting. The house I pay the mortgage on is being rented out so thta's fine for now. However, all my disposable income is getting eaten up with credit card payments and I'm only paying the minimum amount off each one every month. I do'nt have much capacity on them each month to use them either, which is just as well. Most of the debt on them is historical and goes back years, I just never managed to clear the debt.

i'im considering using a consolidation company to try and clear the debt down or at least get some of it written off and to be honest, I'm not so worried about my credit rating being effected for a couple of years and myself and my fiance don't plan on getting a mortgage anytime soon or applying for loands or more credit cards. i'm thinking more long term and am just stuck in a hole at the moment.

Any advice??

BuffyBot

Think about it: what special "power" or "sway" do you think these companiers have over the banks that you don't?

Absolutely none, only they charge you a fee for it.

Go talk to MABS. It may take a little while to get an appointment, but they'll go through it with you and will have a plan of attack if nothing else.

Meow_35

Thanks buffybot,

I have also considered dealing with my creditors myself of course - just considering all of my options. I will definately have a look at MABS, thanks again.

wmpdd3

deal yourself, you'll be surprised how easy it is.