At wits end. Any advice Please

davemtaylor

Hi,

I have just started a goodish job - 21,000 a year. My wife is about the finish work on maternity leave.

Problem is, and its a massive problem cause its worrying me so much i cant sleep, i owe the bank £2000 for a previous overdraft.

My credit rating isnt good as a bank shafted me. I paid a credit card balance 3 years ago, but they never told my credit report people so it showed as unpaid. I sorted this but still rejected applications etc show up.

I just wondered if there are private lenders/companies that may offerloans, etc. I want to borrow £2000 and pay it off within the year, by monthly direct debit.

I know this isnt ideal but i'm deperate to get this bank off my back.

I put this in savings forum as maybe people use savings companies to privately fund these (possibly dreamt up) loan companies.

Thanks in advance for any advice.

LucyTheDwarf

I'm sorry, I have no idea how to help you, but I do think you'd be better posting on the Debt Free Wannabe board - there will be others in your situation, and those who have come through, that will be able to advise you far better than us savings nuts.

Good luck, believe in yourself, and you will pull through.

Oblivion

davemtaylor wrote: »

Hi,

I have just started a goodish job - 21,000 a year. My wife is about the finish work on maternity leave.

Problem is, and its a massive problem cause its worrying me so much i cant sleep, i owe the bank £2000 for a previous overdraft.

My credit rating isnt good as a bank shafted me. I paid a credit card balance 3 years ago, but they never told my credit report people so it showed as unpaid. I sorted this but still rejected applications etc show up.

I just wondered if there are private lenders/companies that may offerloans, etc. I want to borrow £2000 and pay it off within the year, by monthly direct debit.

I know this isnt ideal but i'm deperate to get this bank off my back.

I put this in savings forum as maybe people use savings companies to privately fund these (possibly dreamt up) loan companies.

Thanks in advance for any advice.

Hi Dave, have you contacted the bank recently about your £2,000 overdraft debt? If you tell them that you have just secured a new job, you may be able to negotiate a repayment plan over a sensible period of time and hopefully at not too punative interest rates. It is always worth asking and negotiating.

What I wouldn't want to see you do is go to one of these loan-shark companies to raise the money, because then you will just get deeper and deeper into debt.

Dave.

dadsarmy

Dave,

I can not help you with advice concerning the debt - however try to make an effort to get your sleep at night. Read a good book such as "You are what you think" which will help put things into perspective. Worrying does no good.

Regards Rob

kazwookie

Dave

I am sure I have read somewhere on the board that you can get things removed from your credit rating, but I have no idea how to do this.

But I am sure some one with more knowledge will be along soon to point you in the right direction.

esbo

Dave, how about asking your employer for a loan of a months wages (or so)?

Tell them about your wife, but not necessarilly your credit thing.

If they value you as an employee they might say yes.

You can probably judge yourself whether it is a sensible thing to ask for when
starting a new job with them. They might be very understanding.
Depends on the employer I guess.

[Deleted User]

zopa

http://uk.zopa.com/ZopaWeb/

chesky369

Try not to get involved with loan companies and if you need help with the credit rating and overdraft, go to your local Citizens' Advice Bureau. They have debt counsellors who will help you and, if necessary, contact the bank on your behalf.

1echidna

It is easy to say but if worry is causing you not to sleep it soon becomes a medical problem. People are so different, I know someone with no job who owes thousands whose carefree attitude is they can whistle. If it really is affecting your health do not delay in seeking medical help - some mild medication or counselling may help combined perhaps with somebody to talk through your financial situation in detail (CAB perhaps or perhaps somebody else)

Debt_Free_Chick

Rather than borrow more (the overdraft is already borrowing), could you not trim your monthly budget and pay some off the O/D every month?

As already suggested, post your budget on the DFW board for some ideas on trimming your spending.