Financial trouble only escalates once you have huge balance payments to be maid to number of creditors. Not only your monthly outgoings increase but you have to tackle those creditors also. Moreover, you are worried over missing the payments that may lead to more trouble. If you have small old loans to clear, then a remedy to the problem could be to opt for unsecured debt consolidation loan. But you should ensure that the loan does not result in more problems.
You can repay all of your existing debts towards unsecured loans, credit cards or any other type of loan into single monthly payments of lower amount to the new lender. This could be a way to prune your monthly outgoings to larger extent, enabling you to save money on interest payments.
Because of risks in the absence of collateral, these loans carry a little higher interest rate. Still, the rate is likely to be lower as compared to the rate on your old loans. Moreover, you can apply for the rate quotes to compare number of such offers, enabling you to find a suitable deal with lower rates. What is more, the comparison will also lead the bad credit borrowers, with late payments, defaults, arrears or CCJs, to find these loans at comparatively lower rate. They can also find number of such offers on internet.
Keep your shopping habits under control, until you have completely repaid unsecured debt consolidation loan. on using the loan in a wise manner, you can come out of the trouble in few years.