A bit of a dilemma

Apples2

You're begging for money.

You can't get a loan so you are asking some stranger on the Internet to get one for you and give you the money.
In return you pay them back for a couple of weeks then forget all about it.

How is it?? It's a Win Win !!

redpete

Mr._P_Nut wrote: »

I've been turned down by my bank in the past year and also Tescos (them and Sainsburys seem to have good deals going). I'm not sure why I was turned down, I'v never missed a payment for anything, I've been overdrawn a couple of times but thats about it.

The reason they've turned you down will be a combination of the amount of debt you have now relative to your income, your record of regularly going into your overdraft, maybe uncleared record of going over your OD limit.

I've also heard I'd get hammered on tax on a part time job, is that true?

You might get taxed more than you should to start with but this will be sorted out and you will get back any overpayment.

I know what you're saying about not being able to get a 7 and half loan but this is what I had before and I was on even less money then and got it!

Even if your circumstances are the same the financial world has changed around you, it is much more difficult to get loans now than it was.

I know it would be hard for anyone to tell me, and it does sound a little silly me asking you, but if I owed, for example 5k, would a settlement figure bring that down? Would there even be a settlement figure or is that from loan to loan?

Not sure what you're asking for. There might be an early repayment fee that you would be charged to pay off the loan early, depends on the conditions on the loan. If you are asking if they will take an offer of less than you owe for a full and final settlement, then not until you've missed payments and shown them that you can't afford the monthly repayments, by which time your credit record would be trashed for some years.

To be honest I would get the same loan again, same rate, same repayments, but with what I had left from paying my current loan off I'd pay off my overdraft/phones etc instead of blowing it!

That's one of the reasons it's difficult to get loans now, the lender has no way of knowing that your good intentions will work out this time.

Good luck anyway, take note of what Hax wrote earlier for ways to deal with the debt.

ciscokid

Apples2 wrote: »

You're begging for money.

You can't get a loan so you are asking some stranger on the Internet to get one for you and give you the money.
In return you pay them back for a couple of weeks then forget all about it.

How is it?? It's a Win Win !!

If you read his post you'd see he's saying he can't actually get a loan, so don't get too worked up...