Trying to get finance, three years on

ryan_gillespie

Hi everyone! New to here so apologies if this is a repeat from everyone else’s problem. I know this looks lengthy but please please bear with me.

In 2007 I did a lot of card hopping to make use of balance transfers etc. As some cards only allowed small limits, I ended up with more and more cards. I know, bad move. I was not struggling or anything, so all was fine until January, 2008.

In January 2008, I was involved in a quite bad car crash and was hospitalised for 5 weeks. I sustained quite bad head injuries (thankfully made an excellent recovery now with no impact to living or needing care etc). I fractured my neck that required disc fusion. Anyhow, all is as well as can be now but over 3 years on, I am still suffering with the financial issues that then built up while I was in hospital and the months afterwards.

Because of my card hopping, a lot of bills crept up. Myself being on sick pay for a few months didn’t help. I was still fresh with head injuries too so, planning ahead wasn't a good either. I then was finally able to budget myself and made a good recovery of my bills, regular and on time payments etc. One credit card suffered most and I was able to get an agreement with the bank to pay back a certain amount every month. I should have had no missed payments is quite a long time now. I checked my credit score before Christmas '10 and it was in good status.

It was then I thought it was a good time to look for a loan to consolidate some debts in order to buy a new car (the car I owned was destroyed in the crash). Now, three years on, I am still being declined credit. I have had a note of correction posted on my credit history to help explain the reason for the bad history. I know that really isn't much help though.

I guess my question is, does anyone know or can suggest any decent places to get a load from that won't cripple me financially? I even gave in to a vendor - Enhance (BIG regret) but no joy. Any loan co I've seen have either robbing rates or don't do loans to Northern Ireland.

I'm just so drained with trying to get a break. Because I'm not driving, I'm out £200 a month on taxis. That is something that could easily go on repaying a car loan.

I'm just lost now and tired of trying to research. I haven't checked my credit score since December but no doubt it suffered again because of trying to get a loan

Any help will be much appreciated!

Derivative

ryan_gillespie wrote: »

look for a loan to consolidate some debts in order to buy a new car (the car I owned was destroyed in the crash)

Which is it? Consolidate debts OR buy a new car? Without knowing the details, sounds like you'd be much better off paying off the debts first before worrying about taking on even more.

ryan_gillespie wrote: »

I'm out £200 a month on taxis.

Are you cutting back? £2400 a year sounds much cheaper than a car + insurance + petrol and the rest to me. Especially with an expensive car loan instead of something cheap and cheerful.

ryan_gillespie

Hi EdgEy, Thanks for taking a look. Sorry for not being more clear. I have tried loans for each reason. I remember hearing before about looking for loans for debt consolidation has less of a chance of being accepted as it can be viewed as freeing up all your available credit again. So, I tried both loan reasons. (Under different providers). I can comfortably payback my debts on a monthly basis without consolidation but, I would rather consolidate to free up money and be more comfortable.

The £200 is just taxis to and from work alone. Daily travel also adds to it. I live in the countryside so having no car has me very limited.

ILW

Could buy a cheap £500 car, still would probably come to more than £200 a month in running costs alone.