Debt Consolidation Help

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Should I go to a debt consolidation company or work it out amongst myself?

I am trying to consolidate my credit card debt because the payments are too high each month. If I could get a home loan this would be perfect. I am having difficulty making all the payments and I don’t want to completely ruin my credit. Any reliable consolidation advice would be apprecitated!

Hello All member,
I am taking into consideration Debt Consolidation. Where the finest is consigning to start?
Please share your answer here.

hi,
i have lots of debt which is really drowning me, i have a mortgage of £73000 for my property which is worth £170,00. i want to remortgage and borrow 30k to clear my debt. but because of the debt, my credit rating isnt too great. i want to remortgage with the Abbey Nation which is where i have had my mortgage for 5 years. i have never missed a payment. what do you think my chances are

We cannot fully answer this question without more details but please be aware that if you put unsecured debts such as credit cards and personal loans etc. onto your mortgage you may reduce your monthly outgoings in the short term, but may be paying these debts for much longer and in turn end up paying more. Also if you fail to keep up with the increased mortgage payments your home could be re-possessed by the lender as the debt is secured against your property.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.unbiased.co.uk

I currently owe £61000 in debt on credit cards / loans etc and its costing me a fortune per month. I habe approx £80000 in equity in my home and could easily afford to increase my small mortgage to cover the debts. When mortgage companies look at remortgaging do they take into account that you will be paying all your debt off when looking to see if you can afford the repayments?