Dear Colin

Have thought of another option. Most banks and building societies have independent financial advisers working for them. You could ask for an appointment to speak to one to discuss your finances. The CAB does not offer financial advice to clients and suggests that clients speak to a financial adviser.

Please ensure that you do not agree to taking out any more finance until you have sought assistance from a trusted and reliable source.

The National Debtline offers the same debt service as the CABX and again, it is free.

Good luck.

Dear Colin

I have just read your post. Before taking out any more credit in order to finance your debts, may I suggest that you contact your local CAB for debt advice first? Yes, you do have other options.

The CAB would never recommend that any debt client takes out more loans in order to finance and pay off their debts. The CAB would produce a financial statement and give you debt advice free of charge too. Most CABX can take you on as a debt client because you live in rented accommodation. They may be able to suggest ways of cutting your monthly expenditure, although somewhat difficult when the CSA want money too!

There are companies that advertise on the radio and TV but BEWARE. They charge for their services. The CAB's debt service is confidential, impartial and free to debt clients. Sometimes the CAB can liaise with financial organisations on your behalf and sometimes they agree to withhold interest payments but not always.

If you have any problems with the CSA, you can either get assistance from the CAB or register on I think it is NCSA's website. if you do a search on CSA, this website will come up. They are experts in dealing with the CSA and any problems. You can type in your financial info and they can assist you with your CSA payments. There is a small annual registration fee to pay.

CABX have an advice system for clients called 'Adviceguide'. You can ask for a factsheet on preparing a financial statement and any other related information.

Good luck with your endeavours.

Hi!

Yeah, need to keep payments as low as I can so my monthly cash flow is ok.

Was wondering if there was some way of clearing the debt using 0% credit cards or something cheaper than a second loan.

Hey

As your existing loan is mid term and on a lower APR then in the long term its best to leave it as it is.

If you are looking for £7500 do you need to go for such a long term? You could save £400-£1000 by shaving 1-3 years off that will only cost £7-£27 extra p/m.

I think i would go for a second loan but others may suggest something else. I hope you can work something out.

Eco

Hi!

I need some advice on my current financial situation.

I earn in excess of £30k but with all my outgoings, money is still quite tight.

I need to clear an overdraft/debt of around £7,500 as I'm paying over £60/m in interest. I already have a loan which is 2.25yrs into the 6yr term & is at 5.8% apr.

If I took out another loan I would need to keep the monthly payments below £90 and after using the loan search engine on your web site, there only appears to be one option. That is a 10yr loan with Tesco at 8.2% apr.

Being a divorced male with csa in tow, I am not lucky enough to be a home owner but am instead, renting privately. So, before I take the plunge and TRY for the tesco loan, can you tell me if I have any other options?