Help!

stephnige

hsbc loan £3000 @ £93pm hsbc credit card £2000 @ £40pm hsbc overdraft £1400 @ £150pm charges!! a loan to consolidate all of these would get us out of debt an easily affordable for us as hsbc manager agreed but still turned down our application! we now have bad credit rating but a loan would solve all our problems! an we have more than enough equity in our wages to pay for the loan, but no one, especially hsbc will help, can you??

wowi

I know how you feel... these banks must start borrowing in order 2 get ppl out of debt, it's just not fair!!

DrDoo

i know how you feel, a few months back i felt exactly the same and felt really crap that i couldn't get a loan to "solve" my problem - and i was actually tempted by a bad credit loan!

fortunately I resisted, and now things are looking a lot better now, i've nearly paid everything off using hard earned cash rather than borrowing again, it just meant we had a few tight months where any extra cash was spent on debt.

It will seem better once you start a budget plan! and whatever you do don't become tempted by a bad credit loan!!!

and lastly, it ay not seem it at the moment, but your debt (as was mine) is a drop in the ocean and easily payable once you put your mind to it without getting more debt!

LDJ2009

I have to agree with DrDoo, i have tried every poor credit loan company out there and my credit file is in tatters now.

I now realise that a loan to clear a loan would just make my situation worse so i'm now getting tough with myself and my finances and any extra money i have will be going to clear my debts.

Good luck xx

iolanthe07

a loan to consolidate all of these would get us out of debt

No it wouldn't. All it would do is shift the debt and extend it, usually at a higher interest rate. Consolidation is rarely a good idea unless you can be really disciplined and understand why you are not living within your means. Consolidation loans are a minefield because you think you are out of debt, when often you are just digging a bigger hole for yourself.