In need of a loan

choidivision

I've been trying to get myself out of debt for a while now.
the good thing is i'm under control. i'm not missing payments but i'm not very good at paying much more than i have to.
i live with my parents and i'm paying about £300 out on debts. i'm taking home about £800 a month from my job.
I've had a loan a few years back, which has been paid off for nearly a year now. i found this to be a simple way too do it. Money comes out each month at a fixed amount. no shying away from it.

i'd like to get a loan too consolidate my existing debt.

the bank i have my main account with refused to loan me £6000 because my account had been past the agreed overdraft limit. the advisor i was dealing with told me to try and keep my account in good order for three months and to try again.

I know i'll be able to repay a the loan. in fact getting the loan will actually sort out my current account as i plan to pay off my overdraft and the reduce the limit.

does anyone have any useful advise they'd like to share? including good places to go for a loan? i've looked at Egg so far. I'm about to look into Alliance and Leicester as i have an account with them that i use for a few bills.
i haven't applied for anything yet and have a good credit rating.

CLAPTON

if you do get a loan what will stop you from running up the OD or CCs again?

~Beanie~

A consolidation loan is rarely a good idea unless you have massive amounts of self-control to stop you spending on the CC's and overdraft again.

I've been there, done that (more than once) and am now repaying an £8K loan that was taken out to repay my credit cards. I am also repaying the 4 credit cards that I ran straight back up to the limit, despite telling myself I would keep them for emergencies only! I am nearly 40 and in more debt than when I started with the credit cards at the age of 20. I've had more than one consolidation loan along the way and am no better off.

Better to head over to the Debt Free Wannabe board and tackle the debts you already have, a consolidation loan just shifts the debt from one place to another and gives you the opportunity to run up more! Set uop standing orders for regular amounts each month and don't just pay the minimum. Also CUT THE CARDS UP - I know I used to do things like repay £100 a month and feel really good but 3 weeks later find myself skint and use the card to spend another £90 or so.

£800 take home must leave you with quite a chunk that you can throw at your debts each month and will get rid of them quite quickly.

choidivision

believe me, lesson has been learned!
i care to much about this to go spending on the cards. the cards have been in pieces for the best part of a year now. getting a loan will simply give me one payment to worry about.