Loan for self employed

Kavanne

Oh natwest pay the CCs direct?! Who told you that?!

Blue11_2

Kavanne wrote: »

Oh natwest pay the CCs direct?! Who told you that?!

Natwest when i went in their branch to apply

CLAPTON

Blue11 wrote: »

Natwest and Black Horse both pay the cards direct, thats the 2 i have tried and been knocked back by both.

Do debt management companies deal with Self Employed people?

I would suggest you give us some details of your financial situation.

If you are seriously considering debt management programmes, i.e defaulting on your debts then you are in a very different situation from simply wanting a loan.

try posting some details ..a good format is....

http://www.makesenseofcards.com/soacalc.html

Blue11_2

CLAPTON wrote: »

I would suggest you give us some details of your financial situation.

If you are seriously considering debt management programmes, i.e defaulting on your debts then you are in a very different situation from simply wanting a loan.

try posting some details ..a good format is....

http://www.makesenseofcards.com/soacalc.html

Our joint income just pays all our bills including the £502 we pay on the cards.
I just want to clear the cards therefore reducing our outgoings and giving us extra money as our budget at the moment is down to the last penny due to the cards. These cards have been built up via a previous business i had while i tried to survive for the last couple of years instead of shutting the doors after 10 years......Failure is hard to take but i should have done it earlier instead of delaying

CLAPTON

Without seeing the funll financial details its impossible to have a fully informed opinion.
However, 16k worth of debt with a combined income of £14,500 is a very very high level of debt.
Obviously a major part of the problem is your very low combined income... it seems (wtihout knowing the full facts) to be more of hobby job than a serious income.

However, you must decide for yourselves and I wish you well whatever you decide to do.

Blue11_2

CLAPTON wrote: »

Without seeing the funll financial details its impossible to have a fully informed opinion.
However, 16k worth of debt with a combined income of £14,500 is a very very high level of debt.
Obviously a major part of the problem is your very low combined income... it seems (wtihout knowing the full facts) to be more of hobby job than a serious income.

However, you must decide for yourselves and I wish you well whatever you decide to do.

It is certainly not an hobby and i take offense at that comment!

I said my net income was low because that is what my accounts show for borrowing purposes! I can assure you that it is considerably more. I just wanted advice to reduce my outgoings not to have the !!!! took out of me!!:mad:

CLAPTON

Blue11 wrote: »

It is certainly not an hobby and i take offense at that comment!

I said my net income was low because that is what my accounts show for borrowing purposes! I can assure you that it is considerably more. I just wanted advice to reduce my outgoings not to have the !!!! took out of me!!:mad:

As I said several times without the full facts its difficult to give good advice.
I merely comment on what information is available and what I said was appropriate to the info provided.
If you're offended then so beit; I've merely stated the obvious.

Blue11_2

CLAPTON wrote: »

As I said several times without the full facts its difficult to give good advice.
I merely comment on what information is available and what I said was appropriate to the info provided.
If you're offended then so beit; I've merely stated the obvious.

Get stuffed Mr Perfect!

smartpicture

I'm self-employed myself and unfortunately this is the downside of massaging your figures with a good accountant, when it comes to getting loans or mortgages it counts against you. But you do gain from the additional tax-free income, effectively, so it's swings and roundabouts. My experience is that lenders are now less understanding of the self-employed, unfortunately, so I think realistically you are not going to get the answer you want. Even if you considered a loan for part of the amount, I think you would struggle to increase your borrowings in todays climate.

I also think you've been given some very good and accurate advice on here based on the facts you provided. To be rude to a poster who has taken time and trouble to help you is not only rude, but also counter-productive as it's going to stop other posters from giving you any more help. Don't shoot the messanger for providing you with unpalatable answers.

Blue11_2

Thank you Smartpicture for your advice and point taken. Yes i have received some good advice but its not me being rude in this instance, my job is far from an hobby! But i do take the point that all the facts were not present but the comments i received from one person were dam right rude and in my opinion uncalled for.
I have changed tact now and have contacted PayPlan and they also have been very helpful and i am just waiting their response which is planned in a couple of days.

thank you again to all

Blue