We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Which loan for us? (If at all)
Hi,
If anyone could offer me some advice here it would be very much appreciated, because I have never dealt with a loan before and haven't really got a clue about how it all works.
Basically I am thinking of trying to get a loan for £25000, to cover existing debts (consolidating them into one lump sum) and to purchase a new car. Do people think that, a) we will be able to get a loan, as in the past year we have had about two or three late payments on credit cards and a couple of instances of exceeding our overdrafts and b) if we should go for a loan to cover this, what company should we approach?
Who have other people had good / bad experiences with in the past? Also do you think we should get a loan or not? Any advice would be welcomed here, as we are getting in a desperate state becuase my boyfriend's car has just packed up and without a car he can't get to work! Thanks.
If anyone could offer me some advice here it would be very much appreciated, because I have never dealt with a loan before and haven't really got a clue about how it all works.
Basically I am thinking of trying to get a loan for £25000, to cover existing debts (consolidating them into one lump sum) and to purchase a new car. Do people think that, a) we will be able to get a loan, as in the past year we have had about two or three late payments on credit cards and a couple of instances of exceeding our overdrafts and b) if we should go for a loan to cover this, what company should we approach?
Who have other people had good / bad experiences with in the past? Also do you think we should get a loan or not? Any advice would be welcomed here, as we are getting in a desperate state becuase my boyfriend's car has just packed up and without a car he can't get to work! Thanks.
0
Comments
-
My own view is 25000 is a very large loan to be taking out.. How much of that will be the car? Is the car you have beyond repair? Consolidating your debts is a good idea but in reality you will be increasing them with the car added on. Can you afford it? You need to sit down and work out a budget.
As for loans well i dont know enough about them to recomend any or to say whether you would get one. I would be wary of getting one that is 25k though.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 260.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards