Can Someone Help From The Team :)

exboy1988

Hi all
Right im new to this forum so i hope i have posted this in the right place.
My PROBLEM is im 19 years old, 20 in november and have managed to land my self in debt of £2500. I know it seems like nothing to what i have read on this site but i have relised im in troble and wont to sort it out before i end up on the downward spirial of the debt staircase.
I foolishly took out £1500 loan from the provedent lady and i am paying a stupid amount of interest back. I have a low credit score witch is why i took out the loan in the frist place. Im just wondering if there is any loans,cards that i could apply for that would anable me to pay this off for a lower interest loan or any ways to boost up my credit score.
I have learnt a lesson early in life and speaking about it on here has took a weight off my shoulders already as i have kept it secret from my friends and family as i have been to ashamed to tell them.
Any help would be massively apreciated
Cheers Andy

LilacPixie

Consolodating debt is rarly a good idea.

I thought provident only dealt with loans up to £500ish but thats besides the point. From what I understand of provident you do not get any benefit for paying the loan back early. If this is the case then it just compounds my thoughts that a consolodation attempt is just making your debt worse.

My advice would be to post a full statement of affairs to find out what you have spare each week/month and use that surplus to clear your debts.

Once your debt is clear and you are confident you can use borrowing in a responsible way apply for a credit card such as capital one adverse credit or barclaycard initial and spend a little on it but pay it off in full each statement on time without fail. Doing this will strenthen your credit rating.

Sue-UU

Hi Andy and a warm welcome to the Forum ....and to solving your debts! You sound very sensible indeed and it's so good to hear of a young man who wants to lead a debt-free life. You will achieve that too and you've mad that first great step by coming on here.

Go to the link LilacPixie has put on and put everything on that you pay for during the course of a year, everything you receive too. Be sure to include all gifts etc. Once we can see what your expenditure/income is we can then advise you properly.

Well done Andy, I think you have a rosy future ahead after clearing the above.

Sue

HHH_2

Fantastic to see a young man trying to sort his debts out, you will go far my friend!Take the advice from the previous 2 posters and there will be people who can help