The Situation is Becoming Worse and Worse?
You needed money immediately, you took the loan on the awful terms, however, you did not have the other way out at that moment. You were trying to cover it for a long time, however, the only thing you was awarded was the penalty.
The situation is becoming worse and worse each day, however it is not in your power to stop the process as it is almost impossible to cover the increasing interest rate; your financial position is not good enough.
Are not you tired of constant threats of your creditors? Do not you want to put an end to such a situation and to live without debts? If yes than you just can do nothing, but use the debt consolidation.
Debt consolidation will present you a debt relief. It means that the sum of money you have to cover will be reduced and divided into some parts which it will not be difficult for you to cover at all.
However, I recommend you to make the debt consolidation as early as it is only possible, as each day the situation with your debt becomes worse, and each day which you drag out, will have the material reflection while the loan covering.