Often we make borrowing decisions that we live to regret, thinking only of our ability to repay a set amount at a set time.
So many times, circumstances beyond our control make a just manageable debt repayment schedule into a totally unmanageable on. This often results in applications for further high interest borrowing such as credit cards, to be able to raise the cash to make monthly repayments.
This is a slippery slope, and can sometimes lead to ruin, and is what is referred to constantly by debt advisory services as further borrowing to meet repayments.
The whole situation can be made to go away with a consolidation loan. e.g.
Person A has
10 credit cards total balance of £ 18,000 with repayments of £ 900
A loan of £ 3,500 with repayments of £ 138
Finance of £ 2,000 with repayments of £ 85
Clubs and catalogues total £ 1,500 with repayments of £ 131
Total repayments are £1,254
A consolidation loan for £25,000 could have repayments lower than £200 making a monthly budget saving of £1054, and giving back to person A their life, where they can once again have more money than month.