Thursday, December 15, 2011

Debt Consolidation?

Me and my boyfriend have just bought a house. The mortgage is gonnabe about 700 a month and he pays about 700 a month on all his debts which he aculated whilst he was at university. He only gets paid 1400 a month and we have one child and one on the way. Now, you may think buying a house was silly but....our mortagage advisor told us to get a mortgage and then consolidate his debts because consolidating them first would give him bad credit and we would then be unable to buy a property. Im just wondering whether debt consolidation is an easy process though and something which most people are accepted onto. Im worried about being responsible for a home and stuck with his debt as well???!!! Has anyone been in this situation?

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