Help please !

Goluckybusty

Ok ill keep it short if possible,i need some advice please.I am trying to get a loan and due to a lovely ex-husband of mine who had debts without letting me know about them(one of which being the mortgage) i cannot for the life of me get a loan to help me clear a few things he left me with.I am paying what needs to be paid but i want 1 affordable monthly payment coming out and if possible,a little left over for myself.I have been to the bank but although being with them since 1990 i cannot get them to help(barclays) as my credit rating was affected and this would be an unsecured loan.I am after £15/£20 thousand(at the very most)i have contacted and arranged lower payments with these but then that will just mean it takes me longer to pay off.I'm fed up and frustrated with my past affecting my Future and want to move on without this hanging round my neck.Some companies have said they will lend me it but pay them £40(usually) and they will see what they can do.NO!! i haven't accepted anything from them or paid them anything.if anyone can give me some advice id be very gratefull please.
thanks

di3004

Goluckybusty wrote: »

Ok ill keep it short if possible,i need some advice please.I am trying to get a loan and due to a lovely ex-husband of mine who had debts without letting me know about them(one of which being the mortgage) i cannot for the life of me get a loan to help me clear a few things he left me with.I am paying what needs to be paid but i want 1 affordable monthly payment coming out and if possible,a little left over for myself.I have been to the bank but although being with them since 1990 i cannot get them to help(barclays) as my credit rating was affected and this would be an unsecured loan.I am after £15/£20 thousand(at the very most)i have contacted and arranged lower payments with these but then that will just mean it takes me longer to pay off.I'm fed up and frustrated with my past affecting my Future and want to move on without this hanging round my neck.Some companies have said they will lend me it but pay them £40(usually) and they will see what they can do.NO!! i haven't accepted anything from them or paid them anything.if anyone can give me some advice id be very gratefull please.
thanks

Hi and welcome

I believe you will get all the help you require on this matter on the "debtfreewannabe" thread where many are in the same position as yourself, it will be a great relief for you once sorted out.;)
So please take a look on the stated thread below and post up for help on this....
http://forums.moneysavingexpert.com/forumdisplay.html?f=76

Good luck.

CLAPTON

how much do your earn
do you have any joint debts with your ex-husband
how much are your current debts
how much are your paying in total each month

Goluckybusty

Hi and thankyou,i'll check that link out.
no joint, debts just left me with a bad credit rating(due to him defaulting on mortgage etc) and loans in my name(for items i stupidly bought for him etc)
current debts about £15 thousand or so
earning just over £2500 a month.
paying out roughly £680 (more if i want to clear quicker)a month
i have seen loans for the amount i want to borrow(preferably about £20 thousand but £15 thousand will be fine) for alot less then i am paying out now

BLT_2

Goluckybusty wrote: »

Hi and thankyou,i'll check that link out.
no joint, debts just left me with a bad credit rating(due to him defaulting on mortgage etc) and loans in my name(for items i stupidly bought for him etc)
current debts about £15 thousand or so
earning just over £2500 a month.
paying out roughly £680 (more if i want to clear quicker)a month
i have seen loans for the amount i want to borrow(preferably about £20 thousand but £15 thousand will be fine) for alot less then i am paying out now

Whilst not wishing to be pessimistic I am afraid that your chances of getting an unsecured loan for 15-20k with a bad credit rating are slim at best. The view loan companies take is that this loan is provided on top of existing debts, in essence increase your debt to 30k.

As you can imagine the would look askance at doubling the debt of a lender who already has a bad credit rating. Your problem is excerbated by the fact that the likelihood of being turned is high, and each time you apply and are declined your credit rating drops further - very much a vicious circle

I suspect it will just be a case of biting the bullet for now and struggling on

Goluckybusty

thankyou BLT,i appreciate your honesty.I suppose i kinda knew this if im honest but thought maybe,just mabye there was a slim chance of me regaining my life back on track and not living in the past still, if that makes sense lol.Thanks though, for your advice:)

CLAPTON

-if you have no joint debts then you should dis-associate yourself with your ex on your credit files
-I'm unclear whether you have defaulted on any debts in your sole name or any debts in joint names
-what exactly do your credit files actually say.

but as blt says any creditor will 'see' your total debts as 15,000 plus the new loan 20,000 i.e. 35,000 which is more than your annual salary.

if your exsiting debts are made up of several small debts or CC, then you may try to get a much smaller loan to shift high APR to lower; but that depends upon what sort of debts you have.

neneromanova

What kind of stuff was bought? Anything huge like a car or something that could be sold to recooperate some monies?

BLT_2

Goluckybusty wrote: »

thankyou BLT,i appreciate your honesty.I suppose i kinda knew this if im honest but thought maybe,just mabye there was a slim chance of me regaining my life back on track and not living in the past still, if that makes sense lol.Thanks though, for your advice:)

I'm always helpful to anyone who has the words 'busty' in their nickname :rotfl:

inmypocketnottheirs

BLT wrote: »

I'm always helpful to anyone who has the words 'busty' in their nickname :rotfl:

Hmm, I may have to make the same allowances!