Urgent Loan Required £3000 - £4000 Real bad Credit Pls Help....

Marisco

Could you not explain to the 2 private loans that you cannot afford to pay back £400 each a month and offer £200 each? As someone said, sell the car and buy a banger, you could get a half decent one for £400/500. Or if your work is not too far get a push bike.

rgc

Selling the car may initially be a daunting thought but through combination of bus / bike, you will be better off in the longer run with some money up front to clear some space. Plus there are physical benefits too! Longer term, you will save on fuel and insurance costs. Claim a rebate of your tax if you do sell the car also.

From my experience, a car is an absolute luxury and with a little bit of willpower you can get by without one! Good luck

JasX

So long as you can hide the car and rebuff the baliffs you've really nothing to worry about, worst case if they do manage to get into the property you have nothing of value for them to take, let them threaten all they like and be damned.

Pay them the remaining £550 over the next couple of months (plus likely small increase for baliff collection charges) and they'll soon go away.

can't see what the big panic is about, might be worth forwarning your dad tho, and read up plenty of online advice about dealing with baliff's and what they can and can't do (perhaps someone on here has a few links)

getting an astronomical interest loan would be a huge mistake and leave you suffering similar situations for YEARS rather than the 2-3 months immediate hassle you currently face

Tixy

Advice to read up on if baliffs do come - www.baliffadviceonline.co.uk
But I would still try negotiating with them first at their offices.

david39

I think you urgently need to decide what your priorities are. You have two issues - which is the more important to you?

1 - Concealing the problem from your father so that it does not affect his relationship with you and possibly his health and state of mind OR

2 - Getting out of your financial mess at the least inconvenience and cost to you and your credit history.

If (2) is more important then go along the lines suggested above of facing up to the bailiffs and ensuring they only get what you can afford - but talk to your father before they turn up - please.

If (1) is the priority, then you need to sell your car (you say it and a television are worth £4000) so you can easily clear the bailiffs off and then take the rest from there.

As someone else has pointed out, cars are not the only means of transport and they are a huge burden on a limited finance budget. Without the car, you will clear other debts more quickly.

You seem to be looking for someone to wave a magic wand and present some way out for you that will keep your father happy and allow you to continue in the same style of living as you have enjoyed recently.

No one will be able to do that - you need to bite the bullet - take one course of action or the other and DO SOMETHING before other people take the choice out of your hands.

You have been hivvering and hovvering on this thread for nearly 48 hours and nobody has come up with the result you have been hoping for. Time is rapidly ticking away - if you want to keep control of your own personal life and finances then act now otherwise you will be posting here again in 6 weeks that you are in a dreadful mess and it wasn't your own fault because it was other people who took action against you and there was nothing you could do about it.

DarkConvict

I like Roberto Signature, "The problem with consolidation loans is the absurd idea that "more credit" is the answer to credit problems. There's a reason why the fire brigade don't try and put out burning cars with petrol...".

A loan is not always the answer, it is more often a noose rather than a life line and you have a difficult choice to make, but as above you need to make it quickly before others make it for you.

rudeyrobin

Hi.... Just wanted to thank you all for your advice etc and help, I have been very fortunate and got a loan of £1000 from a friend (pay back £100 month starting from next month) really helped me get out of the trouble i was in. Now i have just 4 month's left of payments and all the debt prior to the £1000 is paid off.

Thank you all for your advice and help really did appreciate it all.

Kind reagrds

Robin

merlot123

Post above reported.

merlot123

RAS

Hi

Newlyn are bailiffs The rules by which they work depend on the type of debt. We need some very clear answers from you before we can help you.

What is the original debt for - court fines? CCJ? What
Have the bailiffs been in your house already?

Do you understand that bailiffs cannot take anything in your parent's house except what you own?
Do you understand that the bailiff could clamp or levy on your car?

paulmapp8306

Being harsh here but,

The private debts arnt enforceable, neither is the family one so they HAVE to be the last to be dealt with. That may mean paying NOTHING for a month or two until the rest is sorted.

the Bailiefs need paying NOW - however you can raise the money really. I wouldnt go for the loan iof you can help it, however?

The other debts need servicing - contact them by letter and make arrangements for a plan. They may not be chasing teh money now but they probably will - which could mean more CCJs/Bailiefs.

If you MUST take that loan, use it to:

1. Pay off the bailiefs.
2. Pay off O2
3. Pay off Orange

Thats just over £2000. Leave Arc as its on an arrangement. Use the other £1k to pay off one of the private loans. As I say there not enforceable BUT if your supposed to pay £400 per months - paying one off would cover the loan. The second private debt then needs paying as and when you can. If thats £50 per month then thats what they get (pay either the one whos most difficult or the one who you may need the most in the future) - again its not enforceable so they have to take what they can get.
thats