small loans

fuller89

hi, im looking for a loan for about 2000, with the repayments being no more than 25 pound per week. ive been caught up with dodgey websites and lost money. so im just trying to find some legitimate websites/loan companys. thanks

zppp

fuller89 wrote: »

hi, im looking for a loan for about 2000, with the repayments being no more than 25 pound per week. ive been caught up with dodgey websites and lost money. so im just trying to find some legitimate websites/loan companys. thanks

I would only ever suggest a high street bank, however, for a loan with them over a term of 5 years, you are looking at repayments of around £50 per month, and alot of interest.

fuller89

i only ever get rejected from banks. as ive got a bad credit rating due to defaulting on my phone bill payments.
the loan is only to pay off my provident loan, because i currently pay 45 pounds per week, due to all my other expences im struggling to pay everything, so im just thinking this would be a good way of lowering my outgoings.

Tixy

Is this your only debt?
Have you worked out a detailed income & expenditure to see where all your income is going and if there are any areas you could reduce?

It might be worth posting on the debt free wannabe section of the forum http://forums.moneysavingexpert.com/forumdisplay.php?f=76 for some advice or you could try contacting one of the debt advice charities for some advice IMPORTANT - Where to seek professional impartial advice about your debts.

fuller89

my outgoings per month are 896.00, thats everything i.e rent, gas, electric, t.v, water, phone bills, catalogue bills, council tax, t.v licence.
and my income per month is only 890. so from them figures you can see why im stuggling every month

zppp

The follow Tixy's advice and go to a debt charity like CCCS, National Debtline or CAB. How would you be able to afford a repayment of £25 per month with no income to pay it? You need to get advice on making token payments of £1 per month.

Post a full statement of affairs on the Debt Free Wannabe board and someone can go through it for you to see if you can save money elsewhere.

fuller89

oh and these figures are excluding getting to and from work, or food shopping, or nappies, milk, ect for my lil boy

fuller89

my total outgoings do include my loan repayments

Tixy

It sounds like you have no chance of a new loan with your expenses exceeding your income. You really do need to do the detailed income & expenditure / statement of affairs to see what changes can be made.

Use this calculator http://www.makesenseofcards.com/soacalc.html and post the results in a new thread on the DFW board. People on there will almost certainly have some suggestions as to how you can reduce outgoings and as well can recommend how you deal with your loan and other debts.

KingElvis

I don't think adding more debt is the ideal solution to your problems. It will be spent and then just add to your problems and the you'll be back at squure one.

Follow Tixy's advice and seek help through a proper charity.

Loan brokers, scumbags and other preadators will clean you out and not bat an eyelid so steer well clear of them.

Best of luck

Elvis