Advice needed re: rent arrears. Loan? Credit card?

beltsonata

Hi everyone,

Last year I finished retraining in order to get a decent job. I'm now working full-time, but I have a couple debts from when I was a student that I need to get sorted ASAP, which I cannot currently pay off quickly enough, so I was hoping for some advice on here.

My landlord is extremely nice and barely lifted a finger about how much I owe him, until now.

Currently, I'm ~£1000 in debt to him due to bills and rent arrears accumulated during my studies (I received housing benefit and income support due to studying part time, but it barely covered my rent / council tax).

I also owe Metropolitan Collections (ex-HSBC debt sell-off) around £500-£600. I'm currently paying them back £100 a month, which is too much for my salary after all rent, career-development loan, etc...

I would like to move into a new place I have found for next month (cheaper rent) but I can't easily do this until I've paid off my landlord and got money for a deposit (I'm not sure how much my landlord will give me back of my current one)... so really I'm a bit screwed unless I get some sort of loan to pay off the ex-HSBC and land lord debts.

Can anybody suggest a way out of this? Cheap loan? Very careful credit card usage?

If I want to go ahead and move into this cheaper place (which I do) then I need to get all of this sorted by the end of the week!

Thanks for reading.

brokeinlondon

Hi, i think we could advise you better if you posted your SOA: http://www.makesenseofcards.com/soacalc.html

There might be areas of your expenditure where you could cut back, and therefore avoid you having to get a loan or any other borrowings. However, if you do need to move that quickly (!), those might be the only option...

If you're willing to wait a month or two, you could probably move without having to borrow from Peter to pay Paul