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help with debt

jen400
jen400 Posts: 1 Newbie
in Debt-free wannabe
My son has £5000 debt with credit cards, catologues and payday loans. He has tries his bank for help but they will not offer loans/overdraft and he has applied for loans elsewhere but has been refused

Comments

  • tealady
    tealady Posts: 3,851 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    Hi
    He will find that multiple requests for more debt will affect his credit rating.
    I would suggest that he does a SOA (sticky at the top) and set himself a budget. That way he can pay back some (or all) his debt and start again.
    Find out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)
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