Running out of time, needing to borrow in time for xmas...

talana

ciscokid wrote: »

Please, I am looking for helpfu responses...
I will make this clearer for you to understand.

You may not like the responses but that's not the same thing as being unhelpful.
This is what you have to understand...
No mainstream lender is going to touch you with a bargepole at the moment, please don't delude yourself. You're in a payday loan spiral and constantly living in your overdraft. It won't happen.
Go over to the DFW board and post up a full SOA and you'll get advice on tackling this.

Apples2

To be completely blunt

1860 - 350 = £1510 more in my bank each month. £1510 less spening a month!!! What would you do with £1510 extra a month!?!

This isn't rocket science......

Nor is rejecting a £15k loan application from someone with this little set up already.... What are the chances of getting £15k back, let alone all the interest??

hbos 200
mbna 200
barclay 100
wonga 600
mem 185
pay day express 385
bank overdraft charge 155
bank overdraft fee 35
TOAL: £1860

ciscokid

Apples2 wrote: »

Consolidation loans are tremendously difficult to come by, if you managed to find one, all that available credit on those cards leads to a MUCH worse place later on. It has for so many people in the past, it is people like you who are now suffering.

I've lost count of the amount of posts where people DID get their consolidation Loan but now claim it was mis-sold as they cannot afford that much for the next XX years.

My cards have all been referred to 3rd party debt collectors, and have long expired....

Asfor repayment on consolidation loan....anything is better than the current £1800 a month....

ILW

What are the actual balances outstanding on these loans?

Tixy

-Your cards have been defaulted and are with debt collectors.
-You have payday loans you cannot afford to repay.
-Your outgoings exceed your income

All these things point to the fact that no one will give you a consolidation loan at this point in time, any lender (even one charging a sky high APR) will see your wrecked credit file and your inability to pay your existing debt and will not lend you any more money. Consolidation loans are out.

Nobody on here will be able to suggest any place you will get a consolidation loan as those places don't exist anymore for people in your circumstances.

It sounds like you are going to have to default on your loans to pay for priorities (I mean the heating bill not xmas presents). Cancel your DDs, send letters to all your creditors offering small payments whilst you seek financial advice from CCCS or one of the other charities and move your wages to a new bank account. Then pay for your heating bill and start to sort out a sensible plan with the charities as to how to get yourself out of the mess you are in.

ciscokid

Apples2 wrote: »

To be completely blunt



Nor is rejecting a £15k loan application from someone with this little set up already.... What are the chances of getting £15k back, let alone all the interest??

You're absolutely right, I want to borrow an additional 15k so I can p*ss it all up against the wall and get my family even more wrecked in debt and destroy our life worse, hopefully get evicted at the same time. I have no intention of paying back the loan and sorting our lives out. I am actually a sadist who enjoys living like this and making my kids life hell and I'm hoping they die of hypothermia this winter.

You can maybe tell, I don't even have the money to pay for my SSRI's right now..

ciscokid

ILW wrote: »

What are the actual balances outstanding on these loans?

A 15k loan would clear everything and give me a bit of spare change...

iolanthe07

The reason your bank is wary of granting you a consolidation loan is that so many people either don't use it to consolidate (there is no guarantee for the lender that you will) or else they pay off their outstanding loans, delude themselves that they are now 'debt free' (which they aren't) and start all over again borrowing money. Consolidation loans can work for those with iron self discipline, but then they are the sort of people who manange to live within their means anyway and so won't need one.

Your best bet is to follow the advice here an visit the debtfreewanabee board and be absolutely open as to why you find yourself in this mess when, as you say in your post, you and your partner enjoy a great income.

happyhaddock_2

Unfortunately I don't think you're listening. You need to pay your priority debts MORTGAGE, COUNCIL TAX, HEATING etc and send token payments to your other creditors until you can sort out a plan. I paid mine £1.00 each at the start. PLEASE go to the CCCS website

katsu

Ciscokid,

Please look at what Tixy is saying. I honestly think the only sensible loan you might get now would be from a credit union to help you get out of the payday loans, and that isn't guaranteed to be available as an option in view of your circumstances.

If your debts are already with debt collection agencies etc then you have very little to lose by getting advice from a charity like CCCS or CAB, Payplan or Christians Against Poverty, in order that you can work out how much money you can afford each month towards clearing your debts, and what is the best option for you. Those organisations will not charge so you lose nothing by getting their advice.

You can get out of this mess but it will take time. You will feel so much better when you have a realistic monthly budget, so please do get some advice.