If you’re struggling with your debt and don’t have any gold to trade in, consider looking into debt consolidation.

We all know that trading in unused gold is a useful way to bring in some extra cash, but what if you’ve already done that or simply don’t have gold to trade in, but still have debts to pay? Debt consolidation could be the answer you’re looking for.

When debts mount up, it can be tempting to just pay the minimum, but often this results in the debts increasing, because of high interest charges. People can then end up taking on more debt, in the form of credit cards or loans, which only makes things worse in the long run. After a while, debt can become unmanageable and make day to day life difficult and stressful.Debt Consolidation

The reason many people choose debt consolidation is that it makes it easier, and often cheaper, to pay off all your debts because you consolidate them all into one payment, which is usually lower than the total of your previous payments. If much of your debt was on store card, which usually have a high rate of interest, consolidating could reduce your interest charges considerably, because the rate will be lower. Consolidating your debts can also help stop phone calls from creditors, which many people with debt are plagued by. After paying off the consolidated loan, you will more than likely see an increase in your credit rating, which will make it easier to obtain credit in the future.

Be aware that a secured loan means that your home could be at risk if you don’t keep up with repayments, so do think carefully before taking one on. You should never take out a debt consolidation loan without first seeking specialist advice. In the UK, there are several sources of free, impartial advice, including National Debtline, Citizens Advice Bureau, and the Debt Advice Foundation.

If you need to pay back your loan amounts, try using your old gold. Here’s how you can do it.

In the times of serious economic crisis gold always becomes a stable kind of investment. It is favoured over paper currencies, which seem to unstable and exposed on many risks. From the long-term perspective its prices are certain to rise steadily, which is why such investments are seen as secure. Obviously, the investors prefer bars or minted coins, but that does not mean that it is impossible to make money from your old jewellery. There are many firms and companies which are really interested in trading in old jewellery and scrap gold, so if you need quick cash, getting rid off unwanted jewellery seems like a good idea. However, there are few important things to bear in mind.loan amounts

First of all, it is necessary to find out how much your jewellery is really worth. It is a good idea to take a closer look at hallmarks on pieces of jewellery and weigh them. Besides, it is advisable to ask some specialist for appraisal. It seems that high street jewellers tend to offer more money than popular television companies, so, instead of sending it to one of them, it is better to visit high street jewellers in your neighbourhood to find out how much they may offer. It is also worth taking into consideration going to one of the big cities like London or Birmingham.

The quarters such as Hatton Garden or Birmingham’s Jewellery Quarter seem to be perfect places for selling old jewellery because of the higher competition. With pieces of jewellery adorned with precious gems it is a good idea to avoid the companies advertised on television since they are mainly interested in gold, so the germs might be discarded. Finally, it seems highly advisable to do a simple research on the internet in order to find out something more about the companies buying old jewellery.