Debt Problems

How to make it easier to consolidate my debt?

I am owning an amount on a barclay credit card and also have a barclay loan. I am thinking of getting another loan with a better interest rate and then pay off the card and the loan so I can consolidate the two debts into a monthly payment that is lower than what I am paying now. Is this something that people have done with any success? Whats the best way to go about it? I do not want to get caught in any debt consolidation scams that I have heard about. Any advise/suggestions/web links would be grateful. Thanks

Public Comments

1. It is a hell of a lot easier - just to do a Bunk - from your debts....why pay for a loan - when you dont have to ..? Do-A-Bunk - the new debt relief solution for us hard up taxed to death citizens
2. I have lots of debts all over the place and have asked for similar advice many times before and unfortunatley each time I am told that consolidation is bad! Try speaking with National Debtline, they will discuss your personal situation and give you good advice that you can understand.
3. If you have 2 depts and they have an interest rate of say 7% and 12% respectively and you can get a fixed rate equity loan of 6% to consolidate them you would be able to lower the interest payment plus the interest you pay on your home is tax deductable. The key is to make sure you budget to the extent you pay down your loan and not just the minimum and you stick to your budget so you don't increase your dept.
4. That is the best approach.
5. Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
6. There is a bunch of useful information like articles,pictures,videos here to help answer your quetion.http://debt-consolidation.featured-resources.info/canada-consolidation-debt-loan.html
7. Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loan<!--allows you to condense your monthly payments into a single, simple bill, while lowering your interest rates and helping you pay down your debts more quickly and easily. It is also an essential tool in avoiding the much more serious step of declaring bankruptcy. http://best-loans.awardspace.com/Loan-Consolidation.htm Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several-->old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.
8. try this one and consolidate your debts without any scam i assure you. http://www.longdogfinance.co.uk/debt-consolidation-loans.html