Suffering from a heavy debt burden, that even our salary cannot cover.
Every month we pay out 20K more than we bring in.
And now my husband is unemployed, we need more than 30K a month to pay our outgoings.
We're living on overdraft funds and the money will run out soon.
Can the debt consilidators really help restructure our debt so it is managable?
What else can we do?
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Firstly, go to see your bank (and your credit card issuers) and discuss your situation with them.
Secondly, contact Caritas or St Johns Counselling Service, they should be able to refer you to an ethical adviser who will work with you to get you out of trouble, if that is possible.
The Community Legal Information Centre website has information about bankruptcy as an option.
Commercial debt consolidators exist to profit from your misery.
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Thanks for your advice, I'll try the counselling services.
I've heard that the banks don't care though, they don't offer payment restructuring or interest freeze or anything.
Is this true?
Please support our advertisers:
Banks are not charities. It depends on how good a customer you have been in the past, to some extent, and what sort of prospects you have to fix the situation.
If you think banks don't care, believe me, debt consolidators care less. And charge a lot more.
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