Do your fear overspending at Christmas time?

 Christmas can be a great time of the year if you have no money problems. However should you be in debt and fear that Christmas spending on your credit card will put you in the red and you will be unable to repay or you are simply worried about adding more debt onto your card then you need to seek debt help...



There are numerous solutions to becoming free of your debts, if you have accumulated debts built up through credit card,unsecured loans, or store cards. The most popular ways of becoming free of debt are:

consolidation loans; a debt management plan; or taking out an IVA. The The best solution for your needs would depend on how much you owe and the amount of creditors you have.

When taking out a debt management plan or choosing an IVA, a debt management team can work with you and on your behalf to try and work out the plan with your creditors for you. If they agree to the plan, you you go into the arrangement over a period and you pay one monthly sum of money, which when combined may be lower than what you were paying, to your debt management team.
This amount is shared by your team between those you owe money to.

If taking a consolidation loan you combine all your existing debts and then take out a loan to cover this amount. If you spread the cost over a longer period, you pay affordable repayments, however in the end you pay more for the loan, with interest added on.

 As long as you do not default on the loan you will pay pay off your debt When the term is reached. However, it is imperative not to borrow again, otherwise you may end up back in debt