One option to consider is a Consumer Credit Counseling Service, or CCCS.CCCS companies offer numerous services, such as financial counseling and budget planning, as well as Debt Management Plans (DMPs).In a DMP, the CCCS arranges a new payment amount with each of your creditors, usually based on a reduced interest rate.

I do not have enough equity to borrow off my house and even if I did my credit is so bad no one will give me a loan.

You use the loan to pay off all of your credit cards.

Then, while you're making monthly payments on the loan, you start to use those zero-balance credit cards again to charge new purchases. A new loan to consolidate credit card debt you just accumulated may not be possible, because the more debt you have has a negative impact on your credit rating.

My Budget can assist you in understanding debt consolidation loans and what options may be available to you.

We specialise in tailoring a debt solution to your specific situation.