can't get credit

dizzydiane

Hi, I'm wondering if anyone can help me. Im new here. Anyways, I graduated 2 years ago, and I just can't shift my graduate overdraft. I'm not in well paid employment and want to do another course to improve my job prospects. I've been to the bank to request a loan which got refused and I have also tried to get one of those super balance transfer credit cards but to no avail. I am paying almost £60 in bank charges, fees and interest and another £50 odd a month off my credit card, I could afford a £100 a month loan and it would be easier, but I can't seem to get one. I'm currently living in a houseshare and don't know of the credit history of residents, so I put all applications to my parents house who I know have a fair few loans and credit cards. I am wondering is this affecting my credit rating? Also don't get me started on experian credit reports. As a way of trying to reduce my outgoings I cancelled it because £7 a month seemed unecessary, but it took them 5 months to cancel it and I am still waiting on a refund from them. Anyways, apart from getting a better paid job which I am trying to do...any other ideas folks?

Simon11

Take on an extra job to pay it off. The longer you drag it out, the more you will end up paying in interest. So work hard now to pay it off! Try and see if you can get a job at the weekend at a supermarket ect.

Also give us a load down on what you spend your money on so we can see where your money is going and offer advice on how to save you money

Dabooka

You say you're sending applications to your parents' house, but where are you registered on the electoral roll? And addresses aren't "blacklisted" anymore, so your housemates ratings shouldn't affect you (AFAIK).

dizzydiane

I'm still registered on the electoral roll at my parents house and all my bank correspondance goes there too. I've spoken with the bank and they said its not a problem. I didn't realise it wasn't the house that was affected. As for taking on another job, Its not out of the question but not too possible because I don't have set days off and my hours can vary from 10am til 11pm, but even when rota'd in sometimes I get sent home early, so it is difficult to budget my income. I also do voluntary work aswell which I fit in when I can. My income can vary from £650 per month to £900. Average £775
Rent £260,
Phone and internet £65 (have just lowered my phone bill from £60 down to £30, I am trying)
Bank charges £55+
CC Between £20-£200 whatever I can afford at the time.
Train tickets £60
Food £60 - I shop at Aldi
Going out £80
I know this does mostly equate to spare cash, but if I get paid a bit more than normal I will buy some new clothes (from primark or the market) only coming to about £50, as I have been living on this varied income for 2 years and my family keep saying I look scruffy and an embarassment.
Yeah, come to the conclusion I really need a new job.
Thanks guys

Tixy

Hi diane

You might want to pop over to the debt free wannabe board for some support and advice.

They may be able to come up with some suggestions of other money making ideas that you can fit round your job - rather than a formal second job there are ways to earn money online that you can do when you like. Also you might want to consider signing up to do online surveys/reviews etc some pay cash, others in vouchers.

Are your bank charges due to items being uppaid/bouncing or are they hbos style charges in lieu of interest?
Have you stopped all spending on the credit card?
Where do you go on the train? have you compared prices to see if a bus would be cheaper? or can you book advance train fares to save a chunk off the price?

Try keeping a spending diary for a couple of months where you write down everything you spend (even 50p on a can of pop etc) so that you can really take a hard look at where you may be spending unnecessarily.

dizzydiane

Thanks, will try those things. Have just signed up to do on-line surveys, so hope something comes of that. Just waiting on a promotion at work which will sort me out a little bit. I'm with Barclays and I get £150 overdraft reserve which i always end up using and have just switched from fortnightly to monthly pay, so I will probably be able to budget a bit better. Personally I think Barclays won't give me the loan, because I'm worth more to them overdrawn.