can anybody help

KayJ066

Hello, i posted this on the loans board but someone told me to post on here,

I recently applied for a 2k loan with welcome finance, i got a phonecall today to say that the manager is processing my application and shouldnt be long.
The loan is over 2 yrs at 60% apr.
I have tried everywhere to get an unsecured personal loan

Im 20, live with parents, earning 11,500 p/a, my credit rating is 2 star.

gettingitsorted

Hi kay and welcome the first thing to do is post a SOA (incomings and out goings ) and then the good people on here will give you there help and support.

KayJ066

Ok,

Incomings £800 approx per month

200- rent
105- littlewoods
30- mobile phone
130- argos
30- telewest
25- tobacco
40- clothes
40- bus pass for work.

gettingitsorted

thanks for that kay just hang in there someone better than me will be along shortly

KayJ066

ok, thanks!

CLAPTON

why do you want a loan ?

you need to start a spending diary to find out where all your money is spent...that is write down absolutely everything you spend and revise your budget.

please list all your existing debts, the APR on each debt and the minimum monthly payments.

think further about what you spend....do you really spend nothing on socialising, xmas/presents, food, work lunches, haircuts, no holidays/weekends away,?

KayJ066

I want a loan to consolidate all my exsisting debt and have 1 monthly payment instead of 2/3.

I don't go out very often, i take packed lunch, my sister is a hairdresser and i live with my parents so food is taken care of.

SunderlandBlackCat

60% :eek:

Have you registered on the electoral roll?

People who aren't registered usually get poor credit scores.

Edit - Just saw your last post - don't consolidate unless you have explored all other options. I speak from experience - I did it twice & ended up in more debt than when I consolidated & at a lot lower apr than 60%. Try this instead -

http://www.whatsthecost.com/snowball.aspx

yung

why would you want to borrow 2k for and at 60% apr? that is madness. have you try A&L or any building society.have a look at this :http://www.moneysavingexpert.com/banking and this:http://www.uswitch.com/loans/index.aspx?ref=mse

CLAPTON

thats good then

your income is 800 and your spending is 600 so what do you do with the 200 you have spare at the end of each month..

please list your debts, the APRs and the minimum monthly payments

gettingitsorted

Clapton your posts can seem really sharp ,i told the OP to post on here for help and support as i didnt think that taking a loan out at 60% apr was the best thing for her to do .