Question: I have a serious debt problem with approx 3 credit cards, a personal loan and a mortgage. I manage to pay the personal loan and mortgage with out any problems however the credit cards and general living bills get left behind. I have read your advice and understand the logic to merging my debts into my mortage however because this is 50/50 with my sister I need her authorisation to do this - unfortunately she will not agree. What steps can I take now to try and consolidate everything into one personal loan - knowing that my existing personal loan is higher than my salary already, and a bank would probably not give me another unsecured loan. Answer:
This is difficult given the high level of existing debt in the mortgage. Have a look at our article on high debt and it may be worth speaking to Creditline to get them to help you negotiate a consolidation with the bank.
