Trying to get even

richard83_2

I'm desperately trying to sort out my money issues, I don't miss payments but I desperately want to consolidate all my finances so I can manage it easier. I only have roughly 9k to consolidate but I am struggling (to my surprise) to find a loan.

I have signed up with both equifax and experian and my credit rating is in the higher end of the fair category (despite the fact I am quite good with repayments etc). I have taken the advice on how to improve my rating ie. get on the electoral roll etc but it doesn't seem to want to improve. I am getting to the point now where I am in danger of going over and I dont't want this.

Can anyone give me some help and advice because all my bank seem to want to do is sell me home contents insurance instead of helping me improve my position.

RAS

Hi

The basic advice here is not to consolidate. if you post your SOA, we can advise you how to pay off your debt most effectively.

Tixy

Hi Richard

Usually we advise against a consolidation loan (although in rare cases it can be a good solution) but to answer your question I suspect you are struggling to get credit not because of your rating but because of the amount of credit your currently have and the percentage of the credit your are currently usings (balances compared to limits).

Don't keep applying for lots of products as each search can affect your credit rating - its recommended to have no more than 3 searches in a 6month period. If you have ever consolidated your debts in the past (but ended up with more credit) then definatley don't go down this route.

I'd suggest instead you write out a detailed financial statement of affairs using this link http://www.makesenseofcards.com/soacalc.html and then you and we can look where you can save money or cut back so that you can afford your current debts easier.

richard83_2

Hi,

In answer to both your questions there is roughly (if a few pennies out at most) the following:

£530 - Halifax Credit Card
£1600 - HFC loan
£4500 - Lloyds Loan
£2000 - Lloyds Overdraft
£1000 - Work Credit Card

What else do you need to know to assist me. Like I said, I don't miss payments But I am in severe danger of doing so if I don't get some assistance urgently.

I don't like this and I want to get it improved so I can stop stressing and get on with it.

Regards

Rich

nicnacnoo

Hi Richard, you need to click on the link that GTixy has posted above then we can all help you more

brokemedic

richard83 wrote: »

I'm desperately trying to sort out my money issues, I don't miss payments but I desperately want to consolidate all my finances so I can manage it easier. I only have roughly 9k to consolidate but I am struggling (to my surprise) to find a loan.

I can't give you any advice as I am fairly new to this myself but I can tell you about my experience. I took out a consolidation loan to pay off all my CCs - I cancelled them all and thought that I would be able to sort it all out that way. Three months later and I had a new set of CCs that needed paying off as well as my loan. It just made my finances worse as I wasn't dealing with my overspending. Don't get a consolidation loan in my opinion.

good luck

Numpty_Monkey

:hello: Hi richard, and welcome along
the above advice is spot on :A

Consolidation very very very rarely works if ever

The clever and good people can help if and when you put the info they need in
use the link tixy posted
http://www.makesenseofcards.com/soacalc.html

We were or all in the stressed out situaton and probably why DFW is the best place to find

david_hellier

Watching. Await your SOA. Do not consolidate. Ignore bank's efforts.