Debt Consoldiation

[Sticks&Stones]

Hi all,

I have been a member here for a few years now but created another account to ask this question as I wish the remain anonymous.

I currently owe roughly $5k in debts. I would love to be able to pay them off but we really don't have a lot of money. I can afford to pay roughly $100 per week in repayments and am hoping to look into debt consolidation.

I am wondering if anyone has done this and if so could you please provide me with some info? I really want to get these paid off asap. I have sold a lot of stuff on ebay, got rid of the phone, cut back our internet which DH still needs for work. We don't eat out, we don't buy a lot of new things or go away. So we can't really cut back our spending anymore iykwim.

Any info would be greatly appreciated.

[Netix]

HI S&S, I called Beyond Debt last week as I just couldn't cope with owing money to everyone (it felt like). All up I owe about 12k, and they offered me a payment plan of $80 p week for four years. What isn't paid off at the end of that time gets written off (meaning you don't have to pay for that amount). Its on your credit history for a while, I recommend you look on the Beyond Debt website, and give them a call. I spoke to them with having to give them all my details etc, they just asked who the debts were with and for how much.

Good luck, I hope you can get it all sorted soon. Lots of s

[Olive]

netix if you pay $80 a week over 4 years do you realise you will pay it all back and some??
you end up paying over 16k back...

[didispunk]

Olive, maybe there is interest added into that as well.

[Olive]

i know didi thats what i was saying, it seems quiet alot of interest

[didispunk]

Oh sorry!

ya it does seem like heaps! I know GE Creditline etc.. their interest goes up to 22.5% or so..
Maybe just a super higher rate!