urgent loan help needed

armishl

Hi

im 24 and move to the city 4 years ago without a job for 9 months.

i eventually got one but wracked up debt and because my salary was only 12k slipped further into debt.

i rent and have changed abode numerous times and have a debt credit history but no ccjs.

i now earn 17k and need to borrow 5000 to pay of old debt which i would afford but im worried about my credit score declining me. i have no current loans or lending apart from a c/c with 650 limit and 300 overdraft and wanted to know where the best place to look would be?

thanks

thriftymomma

Your own bank is the best place to try first.

NickiMcJock

This is my colleague,

He does not assess for a loan with his bank, he has looked into this.

Thanks

Nicki

NickiMcJock

can anyone help??

NickiMcJock

please can anyone help

thought would bounce:j

Money_Grabber13579

Have you tried looking into Zopa?

NickiMcJock

Hi

This loan is to clear council tax debt, that has been run up. And by not paying council tax this has been referred to Sherriff officers who have given 2 months to clear the debt.

Is there any way my colleague can borrow this money via Personal Loan. As you can imagine due to non payment of council tax his credit rating will be through the roof.

NickiMcJock

Would a guarantor loan work???

jamesd

Zopa would decline the application if there are any recent late or missed payments or significant erratic credit record. Regular address changes would also be a possible issue. It's prime lending only. Not a good choice for this case.

Seek advice from a debt advice charity like Citizens Advice or National Debt Line. The officers won't be able to extract money at an unaffordable rate. That's not going to be two months to clear the whole amount so offering what is affordable is the way to go.

Affordable here means after the bare minimum living expenses including rent and food but excluding things like going out to the cinema. It's likely that they will want proof of earnings.

You can apply to your local sheriff court for 'time to pay' council tax debt in Scotland under the Bankruptcy & Diligence etc., (Scotland) Act 2007. It appears that this will be required here if the sherriff isn't willing to accept an affordable payment plan.

So, don't get a loan. Get debt advice and use the law that's on your side to get an affordable payment rate set.

Last I knew council tax was not reported to credit reference agencies but there were moves to change this in the future.

NickiMcJock

Hi Jamesd

Thanks for your reply.

I have emailed this info on.