DEBT CONSOLIDATION BY YOURSELF

If you are considering Debt Consolidation as a mean of managing your existing outstanding debt, you should also be aware that there are two methods you can do this:by yourself or by using a debt counseling company. Debt consolidation may be the answear to all your financial problems. It is true that if you decide to consolidate debt by yourself,this will surely be the cheapest form. There are some steps to follow. You may start by negotiating with your creditors and reduce the interest rates on your debts. You also have to prepare a list of your priority debts. Do not forget about your financial affordability. Take into account your whole income including wages, child tax credit, child tax benefit, state benefits etc. Analyze carefully everything and then calculate how much you can afford to pay per month on all debts.