I need a consolidation loan!

garethstevenjones

Can you help, I am paying over the odds for credit cards and finance etc and need to consolidate my debts. I have a full time resonably well paid job, but have a poor credit rating, my bank (HSBC) have said no to lending me the money, so have Sainsburys... as I keep searching and applying I realise that my credit rating goes down each time I apply and get refused... I am at my wits end with it, money runs out almost as soon as I get paid leaving me very little to live on, I dont want to go down the road of becoming bank-rupt, is there any lenders out there for people like me?

KingElvis

If you want the honest answer, it's no....sorry

jonesMUFCforever

Go over to the debt free wanabe board for useful advice.

fatbelly

Sorry gsj but it doesn't sound from your post that you would be able to afford the contractual payments on a loan (if you could get one).

There are plenty of options short of bankruptcy but we'd need more info to be able to point you in the best direction.

I agree with the above - head over to the debt free wanabe board.

garethstevenjones

Thanks for the advice guys. As it happens I can afford the repayments on a large loan, what I cant afford is the repayments on 2 credit cards, a personal loan and a finance loan for the car.
If I could give once piece of advice to anyone else thinking of putting holidays and cloths on a credit card.... DONT! I could have gone on round the world trips the amount I've spent on my credit cards and I have nothing to show for it!
In future if I cant afford it I just wont have it.

HappyMJ

What no photos from the holiday? Don't you still have the clothes? And you have the car on your drive so you do have a bit to show for it...

If you can afford the repayment on a loan but not the combined repayments that you are making then you may have to consider a Debt Management Plan to reduce those repayments down to a manageable level without the need to refinance. Post a Statement of Affairs on the Debt free wannabee board and you'll get loads of advice.