Unemployed but need credit asap

Rick007

Hi. My name is Richard im 25 and have recently goten myself into a bit of trouble with loan companys. I have maxed out my wonga acount and owe nearly £600 to them and i also owe the provident 350 and various other loans of friends and family. I am unemployed and basicaly have no way of paying off these debts in time. I was wondering if there were any credit cards or IVA's for people who or unemployed. Preferably one with a good deal on Apr over a long period of time. Im at a loss at the minute and have been searching the net for ways to try and get myself out of this mess but havnt come across anything which could help someone in my position out. Could anyone please give me some advice on the mater? as i am stressing and i dont know how im going to be able to pay all this off. If i could get it all under control and only owe one company this would help me a lot . Thanks for reading.

Richard

izools

No. Your solution is not to borrow. Your problem is caused by borrowing. You've already borrowed from the companies who target people in your situation, there isn't anyone else to turn to.

I would suggest you do the following:

Open another bank account - preferably a Co-Operative Cashminder. This doesn't come with an overdraft, but does come with a debit card. It is not credit scored. This will stop any company or finance house who has your current bank details from attempting to take money preventing you from withdrawing your benefit. Ensure of course to update the job centre and anyone else you are claiming benefits from the new a/c details ASAP.

Write to all of the people you owe money to explaining you are suffering financial hardship - explain you are unemployed - and offer them #1.00 a month whilst you are unemployed in exchange for frozen interest.

Explain in your letters that if they are able to freeze interest you can increase payments once you are back into work. Explain that if they are unable to freeze interest you will have to consider Bankruptcy.

Include a postal order for #1.00 with each letter - advise in the letters that the POs are only to be cashed if they accept the offer in exchange for frozen interest and return the money to you if not.

Don't borrow another penny.

If your problem is not having money, spend less, and get more. Apply for more benefits, step up the job search, consider menial work for now, and spend less.

Bored

I'm sure other people will be more helpful, but my only idea would be to try and raise as much money as possible - ebay any non-essentials like games consoles and double your efforts to find employment ASAP (if you're not already).

If all else fails, ask friends or family to bail you out.

Rick007

thanks Izools that sounds like an option worth considering