Any help welcome

jamesd

x_Raphael_xx, what is the early repayment figure for HFC 2?

x_raphael_xx

Robflh ~
Thankyou!
I have recently (this week) tried to apply for a consolidation loan with Bank of Scotland and was refused. I assume the answer would be the same for a credit card.
I have a copy of my credit report and it all looks good to me, no misses payments etc, though I'm not sure what my credit score is. I would hesitate to apply for more credit at the moment as I know if you apply for too many close together it can lower your score. I think I will wait until I have paid a little more off before I try again.

jamesd ~
I did try ringing the same number to get a settlement figure for HFC 2, however as this is linked to my local branch I can only get one if I go into the branch. Not sure why the other one would let me! I will drag myself into town soon (I hate going into town) and pay them a visit.

On the borrowing more from HFC to pay them back...I really do not want to start another agreement with HFC, even if it would save me a few quid. I really hate them that much!
I reckon that with a bit of hard work I can pay this off in September, And, while I understand your reasoning, I would rather do it without signing up with them again. I might look into it when I am ready to pay off HFC 2, as hopefully I will had reduced my debt quite a bit by then, and they might even give me a better offer.

jamesd

I can understand about not wanting another agreement with them. I doubt it's worth having to meet them to get that settlement figure for HFC 2.

Robflh

Hi x_raphael_xx

Being turned down for a loan does not mean you would be turned down for a credit card. They are, as I understand it, two different forms of credit and therefore they have different rules.

Too many searches on you credit report will reduce your credit rating, to them it looks like you are in trouble and are DESPERATELY trying to get more money. However, I think two or three every six months does not have any effect. So, you would be able to apply for both the Mint and the Capital One cards.

Sign up for the thirty-day trial, pay to see your credit rating with your credit card and you will instantly see what your credit rating is. Alternatively, contact the company you got your report from, again pay a fee and you will have your credit rating.

At www.creditexpert.co.uk they have information on how to keep or improve your credit rating. So, have a look and see for yourself if there is anything of interest to you.

jamesd

If you are inclined to try getting a new credit card, a month after settling HFC 1 would be an early good time since it will show that you settled an account of significant value, suggesting a lack of trouble.

x_raphael_xx

jamesd wrote: »

If you are inclined to try getting a new credit card, a month after settling HFC 1 would be an early good time since it will show that you settled an account of significant value, suggesting a lack of trouble.

This is probably what I'll do, drop the debt a little and then see. I want to clear at least 2 loans by Xmas. HFC 1 in September, and either Bos (as it will be very managable) or if the price is right I will see if I can get rid of HFC 2.
I've have asked for a settlement figure for HFC 2, she couldn't give it to me over the phone, but has posted it to me, so I will let you know when it arrives.
The cheeky mare also tried to 'see if we can do anything for you' but could only offer a new loan with higher interest and longer term. My aim is to pay all my debts off by Xmas '08, so that I can start Year 2009 with a clean slate. I will be 25 in Jan 2009 and want it to be my 'new start'.

Robflh

Hi x_raphael_xx

Can you post what the outstanding debt is on Loan 1, Loan 2, credit card and BOS.

jamesd

One easy trick you might like: Plymouth accepts Council Tax payments by credit card from their web site with no extra charge. This way you can pay them and not have the expense for a month, letting you use that money to save interest on one of the debts - maybe the credit card itself. In effect you reduce your total borrowing on which you're paying interest by 61.70 at no cost to you. Only saves about 11 a year in interest but that's better than nothing.

x_raphael_xx

Robflh wrote: »

Hi x_raphael_xx

Can you post what the outstanding debt is on Loan 1, Loan 2, credit card and BOS.

Outstanding debt is written in my sig, its correct as of this month.

x_raphael_xx

jamesd wrote: »

One easy trick you might like: Plymouth accepts Council Tax payments by credit card from their web site with no extra charge. This way you can pay them and not have the expense for a month, letting you use that money to save interest on one of the debts - maybe the credit card itself. In effect you reduce your total borrowing on which you're paying interest by 61.70 at no cost to you. Only saves about 11 a year in interest but that's better than nothing.

My council tax comes out each month by direct debit from my bank account, I find this easiest as my council tax is one of my bills I definately don't want to be late on!
I might do this a month before I pay the loan, but it doesn't seem workable over a long period of time.