u/Electricianfromlv

Hi everyone,

I’m looking for practical financial advice on how to deal with my situation.

I currently have around €18,000 in debt, mostly from microloans. At the time, I couldn’t get approved for a bank loan due to low income, so I went with microloans instead.

My current income is around €1000–1100/month, and about €600 goes toward loan payments. Because of the interest, it feels like I’m not making real progress.

My situation is more stable now than before, but I’m still struggling to get ahead.

I’m based in Latvia, if that matters for legal/financial options.

What would be the most effective strategy in my case?

Debt consolidation (if possible)?

Negotiating with lenders?

Any other realistic options?

Any advice would be greatly appreciated.