stupid loan- need help

salduck

Hi guys,
A few months ago I took out a loan with Paydayuk (I know i know!!)
Total amount to be paid back is £425. now i have defered it this month and really want to get rid of it next month.
I have a default on my credit file from 2006 for capital one- its satisfied now- nothing much else on there of any great issue.
What i would like to ask does anyone know of anyone who would lend me this money to pay back to payday and then pay off the loan within 3 months as i cant do this with payday they want all or nothing.
cant ask family, no partner just lil ole me but really wanna get rid of it!
Any help or advice apprediated
Sal
x

TotallyBroke

Rarely do consolidation loans work. Robbing Peter to pay Paul is not a good idea.

Go to https://www.makesenseofcards.com/soacalc.html and fill out a soa. With some good advice we can help you juggle your finances to be able to pay off the payday loan and never need another one.

BUT you have to really commit.

RAS

Contact you local credit union. They may help you with a "freedom loan. At 26% APr it is not the cheapest option but a lot less expensive than the payday loan.

salduck

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1725
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1725
Monthly Expense Details
Mortgage................................ 399.01
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 92.9
Rent.................................... 425
Management charge (leasehold property).. 0
Council tax............................. 56
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 150
Clothing................................ 15
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 65
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 45
Pet insurance/vet bills................. 0
Buildings insurance..................... 28.13
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 5
Entertainment........................... 75
Holiday................................. 15
Emergency fund.......................... 0
Total monthly expenses.................. 1521.04

Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 85000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 70000....(399.01)...5.99
Hire Purchase (HP) debt ...... 2750.....(92.9).....0
Total secured & HP debts...... 72750.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................200.......25........0
payday loan....................425.......82.5......0
Total unsecured debts..........625.......107.5.....-

Monthly Budget Summary
Total monthly income.................... 1,725
Expenses (including HP & secured debts). 1,521.04
Available for debt repayments........... 203.96
Monthly UNsecured debt repayments....... 107.5
Amount left after debt repayments....... 96.46
Personal Balance Sheet Summary
Total assets (things you own)........... 85,000
Total HP & Secured debt................. -72,750
Total Unsecured debt.................... -625
Net Assets.............................. 14,375
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Okay a bit of history- I own a house in Manchester but live in Northern ireland
Manchester house is empty with tenant moving in end of March so that will pay the mortgage and insurance etc.
Share a house with another guy in belfast- sky/phone etc is included in rent as are rates, we dont havce a choice over here on elec and gas companies so are stuck with that
mobile is on contract until 2010 so on lowest i can be as dont have home phone i can use.
internet usage on soa is mobile i need it for work.
I keep a food diary and entertainement costs include my gym(needed as trying to lose weight)
Any help thanks
Sal