Impossible to get a Loan!

simon4amiee
simon4amiee Posts: 136 Forumite
Well through no fault of my own, and I will admite I have in the past been reckless with money, and it the point where I pay a Debt management company a fixed amount and they distribute to various companies I owe to this has been going on several years now, and dont seem to be nearer paying things off, the result is my credit rating is so bad i cant even get a overdraft for £50. I am shortly be going to move home, and this is very costly, ie first months rent/bond/moving etc, at ill wager there is nowhere that will loan me £1000 over 2 years!

Comments

  • Idiophreak
    Idiophreak Posts: 12,024
    Combo Breaker First Post
    Forumite
    I'd be surprised if you found someone who would, tbh - and are you sure you're allowed to borrow extra money on top of your DMP, anyway?

    Think you're best off pulling the purse strings as tight as they'll go, trying to earn extra money and saving for a couple of months.
  • ~Beanie~
    ~Beanie~ Posts: 3,043
    Combo Breaker First Post First Anniversary
    Forumite
    You are nor allowed to borrow more money when on a DMP, it is against the terms and conditions. Your creditors won't be very happy to discover that you have borrowed money when they have made arrangements for you to repay when you owe them, possibly freezing interest and charges to help you.
    :p
  • emmy05
    emmy05 Posts: 2,085 Forumite
    this bit of your post worries me

    where I pay a Debt management company a fixed amount and they distribute to various companies I owe to this has been going on several years now,

    how come its been going on for years, and how many exactly?
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.4K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards