Help please! dont know where to start!

trudie511

Hello

i may be posting this in the wrong place so apologies if that is the case... basically i have got myself in a little bit of finical difficulty. I have just started a new job and get payed a lot less than i was previously. I have started working as a trainee estate agent and earn £690 pm after tax. My pay will go up considerably in about 3 months time to around £900pm after tax. I have an account with Great Universal with about £300 outstanding on it. I have already missed 2 payments as i haven't been able to afford it on my new wage so my account is in arrears at the moment. I have also taken out a payday loan last month which needs to be payed back at the beginging of December. What i need to pay for in December is : £200 Great Universal £30 phone bill £250 petrol £100 pay day loan £40 rent and £80 on food. So i will have nothing left after this and have not even started my christmas shopping. I am thinking of getting a credit card to help me out. Obviously i will now have a bad credit rating because of the GU. I have applied for a loan with tescos and was refused. Do you have any advice? I really dont know much about credit cards at all, i would want to spend around £600 on it this month and probably not use it again.. How much approx would i be paying back each month? or is there a better solution where i can pay the money back in a few months time but still not all in one go? Sorry i know this sounds very confusing but i don't know much about loans and cards. Any help would be appreciated!! Thanks

BugsyBrowne

trudie511 wrote: »

Hello

i may be posting this in the wrong place so apologies if that is the case... basically i have got myself in a little bit of finical difficulty. I have just started a new job and get payed a lot less than i was previously. I have started working as a trainee estate agent and earn £690 pm after tax. My pay will go up considerably in about 3 months time to around £900pm after tax. I have an account with Great Universal with about £300 outstanding on it. I have already missed 2 payments as i haven't been able to afford it on my new wage so my account is in arrears at the moment. I have also taken out a payday loan last month which needs to be payed back at the beginging of December. What i need to pay for in December is : £200 Great Universal £30 phone bill £250 petrol £100 pay day loan £40 rent and £80 on food. So i will have nothing left after this and have not even started my christmas shopping. I am thinking of getting a credit card to help me out. Obviously i will now have a bad credit rating because of the GU. I have applied for a loan with tescos and was refused. Do you have any advice? I really dont know much about credit cards at all, i would want to spend around £600 on it this month and probably not use it again.. How much approx would i be paying back each month? or is there a better solution where i can pay the money back in a few months time but still not all in one go? Sorry i know this sounds very confusing but i don't know much about loans and cards. Any help would be appreciated!! Thanks

With missed payments and a dodgy credit report by the sounds of it you would be lucky to get a credit limit of £200,so forget about spending £600 a month on a card.

Don't think at this particular time you would be any good with a credit card,might be a slippery slope for you.

CannyJock

trudie511 wrote: »

So i will have nothing left after this and have not even started my christmas shopping.

Forget about Christmas shopping - I doubt anyone you'd be buying for would be happy that you were in debt that you can't afford but felt the need to buy them something. Skip this year and make it up next year when you have some money behind you.

CannyJock

trudie511 wrote: »

What i need to pay for in December is : £200 Great Universal £30 phone bill £250 petrol £100 pay day loan £40 rent and £80 on food.

£40 rent sounds like dig money? If you're still living with parents then they might be your best bet for a short-term loan to square things away. Getting into credit cards when you're not sure how they work and your finances aren't in a good position could be bad for your wealth.

Be very wary of pay-day loans. Fine if you take one to get you out a sticky situation and pay it back a week later - but they make money out of charging you for the facility.

garthdp

You are in fairly shallow water at the moment,Dont go any deeper.If you dont know how credit cards work then maybe you should not get one at this time.

Speak to your bank/parents/employers /friends about a small loan to tidy you through but please dont get sucked into robbing peter to pay paul on cards even if you can get one which I doubt you would be able to do
.Forget getting into xmas shopping if you have not got the means to pay for it.
Pick up some extra work - bars and pubs will be starting to get busy in the run up to xmas -to earn some extra cash,grit your teeth and droll up your sleeves ,cut back on spending save what you can and three months will soon pass and you should be back on track

good luck