Loan Advice

Joeo

Could someone advise me on what I should do. We only need just under £1000 to get us over the next couple of months and out of our over draft. My first solution which would have been the right amount and would have helped us immensley was to take a mortgage break for a month, but although when we took our mortgage out I did ask if this was available and told yes when we have asked for it we have been declined. We have never missed a payment and both myself and my husband have really good credit ratings so I cant understand it. Our bank have offered us a top up on my existing loan or my husband can get get a loan we can also extend our over draft if needed. None of these I particulally want to do as I hate living out of my over draft and if we take a loan out just to get the small amount we want is it really worth it. Can anyone give any advice on which way would be best to get us over the next couple of months without us having to try and crawl our way back to where we were last month????

Thanks

CLAPTON

you simply need to reduce your spending and the OD will then reduce month on month
if you get a loan then you will need to pay it back which means reduce your spending

the most cost effective way depends upon the APRs of the OD, any top up loan APR (although they often want ot refinance the entire loan at a higher APR so be careful) and possibly use of credit cards


work out a proper budget and cut down on the non essentially
try this format
http://www.makesenseofcards.com/soacalc.html

and find out where all your money goes.