help i need a loan!

gummybear84

Thanks for looking and would appreciate any comments.

I am looking to take out a loan of about 8-9k, the main reason for the loan is to consolidate some existing debt, i have a personal loan of 6k with my bank RBS,4 catalogs in total owe 1k and one credit card with £250 on it. The money left i will be using to place a deposit on rented accommodation closer to work.

I have tried the usual route of going to my bank which they refused, then tried going to other high street banks and again refused, so stupidly went to yes loans and paid the admin fee and yes you guessed it got refused again. so now i am getting a bit desperate! before all this i had thought by credit rating was not to bad as i had only a few late payments to a couple of the catalogs which the payments are all up to date now. but i guess it will be pretty poor now due to all the credit searches. So i guess what am trying to get at is dose anybody now where i would be guaranteed the loan without having to pay a admin fee?

earn £16000 a year so will be able to afford repayment of about £240pm.

Francesanne

Can't offer you any advice but do wish you luck in getting your finances sorted out. Obviously don't know your circumstances or age but £240.00pm is going to be a big chunk out of your salary. Are you sure you can afford that level of repayment? Don't commit yourself to something you might not be able to afford. All the best.

~Beanie~

With late payments recorded against you and also the searches already done, I doubt you will get a loan anywhere tbh.

A_Nice_Englishman

Have you looked at your future incomings and outgoings?

Take home pay about £1070 pm
Rent - if your deposit is £750-£1750 as suggested by the figures you give rent is presumably £750 pm +
Pay - Rent - loan repayment = £80

I think you better think again

gummybear84

The rented accommodation i will be looking for will be around £400 to £450,so the deposit needed would be £900 max. With the monthly rent plus bill which in total would round up to £550 tops, I would be able to make the repayments of at least £250 and still be left with some extra cash to play with. surly there must be a company that could lend me money as i have never had any ccj, defaults nor been bankrupt?

Apples2

Council Tax
Water
Gas
Electric
TV Licence
Car
Food

All for £200 a Month??

Francesanne

Apples2 wrote: »

Council Tax
Water
Gas
Electric
TV Licence
Car
Food

All for £200 a Month??

Don't forget Petrol, Phone, Entertainment, Clothes. Can't be done on £200.00

gummybear84

monthly income after tax £1100

rent: 400
council tax: 50-60
gas/electricity:50-60
tv licence:15
phone/satellite tv/broadband: all free with my work as i work for the satellite company!
car/petrol: 0 as i don't drive
Total: £525

so after all the bills are paid i could make the Loan repayments of £200-£230 and still be left with £300 plus a month for other expenses like food, nights out and so on.

Kavanne

A high street bank won't lend for a deposit. You need to find another purpose for the rest of the money.

If your monthly income after tax is £1100 then you aren't on £16000, you are on £17000+. Be realistic about your income!!

gummybear84

income per year is £16k but with over time plus bonus take home £1100 after tax so thanks for the comment but i am being realistic!!

~Brock~

gummybear84 wrote: »

income per year is £16k but with over time plus bonus take home £1100 after tax so thanks for the comment but i am being realistic!!

It's not the people on this board you need to convince about how you can afford it - it's the lenders themselves, and by the sounds of it you haven't managed to do this.

Sorry to have to say this, but your options are now realistically to just plough as much money as possible into your existing debt to reduce it down, while in the meantime travelling the extra distance to work. Set yourself a goal of (say) reducing your debt down by half within the next six months. After this the credit searches that have recently been done on you will have dropped away and you will be able to reapply for the loan but won't need to borrow anything like as much.

You know it makes sense