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A young Glasgow family who were heading towards bankruptcy were able to avoid it by taking out a debt consolidation loan, even though they were advised there were no other options available to them.

The Conroy family were advised that all other avenues had been explored and the only alternative for them was to declare themselves bankrupt, even though both Mr and Mrs Conroy were in full time employment.

Fortunately, they were able to get some free advice off a web based loan company who specialised in poor credit loans and they simply advised the Conroys to consolidate all of their smaller debts into one single monthly payment. This debt consolidation saved them over £300 per month which they used to repay their outstanding mortgage arrears each month.

This simple procedure allowed the Conroys to remain in their home and get their debts under control by being able to focus on just one monthly payment rather than lots of smaller ones.

Written by Alex Harrison