Which loan for us? (If at all)

zeddy_2

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.

socmwils23

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.