Hello

Im not sure what to do and would be very greatful for some expert financial adivce regarding my personal finances.

My situation is, I have about 13000 debt, loan, credit card, overdraft, which are all being delt with debt collection agencys. Im also in the situation where i need to rase some cash around 5000 to help start my own business.

WHAT DO I DO?

Do i go with a debt management company who clain they will pay all my debts and make it all just one payment to them, then get a small loan

or

Get a loan from one of those companys who give loans to people with bad credit ratings for the total amount, pay off all the debts?

Someone please help with any sort of information, experiance you may of had or any sort of advice please.

Regards

mwarv

Sorry no financial expert just a human response and no reflection on you personally but would it be better to pay off all your debts first then and only then start up your business? Also even once your debts are paid wouldn't you find it extremely difficult to get a reasonable loan?

In this present climate i would think very carefully about getting a loan with your credit rating and having to pay high amounts of interest it could be the start of another problem?

Best of luck!

Paul