A few years back I found myself in quite a lot of debt, it was the usual sort credit card, overdraft, loan companies etc, anyway everything started to get on top of me! I fell behind with the payments so therefore interest was added, letters were coming through the door demanding payments but instead of trying to sort the problem I just through the letters into the draw and tried to forget about them, obviously this didn't work.
Eventually I came across a company called Debt Line, after talking to them on the phone I started to see light at the end of the tunnel, I came to an arrangement with them, I paid them £100 per month and they would distribute this between my creditors, I was aware that there was a fee for this but I wasn't sure how much it was at the point, Debt Line advised me not to make any payments to my creditors and to ignore any letters they sent, so I did!!
Weeks passed and I continued to get the usual letters and I continued ignoring them, eventually I recieved a leeter from one of my creditors saying that they accept my payment plan of £12 per month, two more letters followed over the folowing days. Looking at the letters I realised just how much Debt Lines fees were, £64 to be exact, I remember thinking that the £64 could be used to help pay my debt, I could do what Debt Line was doing myself. So I called them and told them I no longer needed their services.
When I canceled my payment plan, needless to say Debt Line were not at all happy but I didn't care, in my opinion I was about to waste £64, paying for something I could do quite well myself. Once the plan was canceled I continued paying my debts off on a weekly basis. Thankfully I an nearly debt free, I just wish I had done that in the beginning.
I totally understand that it is easy to get into debt, but dont bury your head in the sand the problem will not disappear, If you are dealing with a debt consolidation company check how much they are charging for fees before you agree to anything.
Thanks for reading