newbie and don't even know where to start!

scarlet42

Hi guys, just after some advice.
So, I went back to college last year and had a career development loan for £8000, I also have nearly £3000 on my credit card and about £3000 overdraft.

I pay £200 a month on my loan and £75 min payment on my credit card and nothing back on my overdraft. I only earn about £1100 a month, rent is £350, plus bills on top of that.
Since January I have been more or less working 7 days a week just to live and pay these. However, the time has come and I just want to clear it all with one monthly payment for my own piece of mind.

Now, I know it's not severe debt where people are knocking on my door but I really don't know where to start about getting a consolidation loan. As it's not severe I don't think it would be eligible for government debt schemes but then if I apply to the bank and get rejected what am I to do? As I'm sure, my credit rating will go lower than what it is already which probably isn't great!

I'd rather get a loan I'm paying for the next 20 years and actually have a life and not working 7 days a week than live like this for however long!

Ok, so, it' been a bit long winded but any advice would be most welcome.

Thank you!

UNHAPPY_2

Now, I know it's not severe debt where people are knocking on my door

and here i am worried about £300 on my overdraft lol


i know about as much help as a ashtray on a motorbike but it it past 1am and i need my bed goodnight

oh and goodluck scarlet

Fitzer2000

Hi Scarlett, Debt is relative, be it £300 or 3 million. Owing money and trying to get you life in financial order can be stressful. Can you post a Statement of Affairs and we can take a look at the kind of debt you have. There are some wonderdul ppl on this forum that have helped a lot of ppl. Thanks for posting!

carol01

hiya scarlet
i woundn't say a consolidation loan is the best option as all you are doing is shifting a debt to a debt
best thing to do is post a soa as fitzer says and then let the mse'rs chop and change it for you and see if you can shave anything off your budget hope this helps