I know that there are a lot of debt consolidation companies who can genuinely do good for people and there are also many that need short term loan and cash advances.
I am fortunate enough to have a stable income and realise that I am one of the lucky ones.
But I want to pose a thought to any that may be enticed be adverts for wonga.com and similar services.
Is the short term loan really necessary? I know there are cases where it is, but have you thought that it might actually be better letting the direct debit bounce or failing to pay the company you owe money too in the pretty likely circumstance that by the time they send a reminder for payment or demand for payment before they cut services off you will have the money.
If you can’t pay your phone bill one month, you are unlikely to get penalised by the network unless the situation drags out. But if you were getting paid in 7 days time, by the time the network does all the necessary paperwork to say you haven’t paid, you have been. Then you can make the payment.
This applies to many other everyday purchases/payments too. Even if a penalty is put in place, it might be smaller than the short term loan.
I do not encourage this tactic but it may be one that saves you paying more than you need to.