£40k debt trying get a loan for £25k

pmj9bro

I have unsecured debt of about £43k, 25k of this is credit card debt and the personal loans I am trying to get a consilidation loan of about £25k. My salary is £57k and my wifes is £8k. I rtecently moved into rented property so dont have a prpoerty for security.

Can anyone advise me on who would be the most sympathetic lender for a consolidation loan. My own bank have indicated that they wouldnt lend £25k.

any advice would be apprecaited.

LovelyLeeds

You're in a very bad place financially. I'm afraid you've got Bob Hope and no hope of getting 1p let alone the amount you are quoting.
Best thing to do, is wait for some long time posters to see your opening post, and take their advice.
Good luck.

CH27

You've no chance. Your income/debt percentage is too high.


Post your SOA up here & people will happily help you.

bottleofred

Hi pm,

Debt consolidation only works for around 10% of people who try it and I wasn't one of them. I did pretty much what you are doing at the minute and desperately tried to get another loan as this would help. I managed to secure another loan, but it didn't help and I ended up in even more debt. I think you should probably consider a debt management programme with the consumer credit counselling service or another non fee charging organisation service. You will not be able to use credit cards or get loans, but I can assure you that life does go on without credit and is in fact pretty good.

Good luck

Red

Dave101t

if you have got 65k coming in as salary, id say its easy to just pay it off.

leveller2911

pmj9bro wrote: »

I have unsecured debt of about £43k, 25k of this is credit card debt and the personal loans I am trying to get a consilidation loan of about £25k. My salary is £57k and my wifes is £8k. I rtecently moved into rented property so dont have a prpoerty for security.

Can anyone advise me on who would be the most sympathetic lender for a consolidation loan. My own bank have indicated that they wouldnt lend £25k.

any advice would be apprecaited.

Tighten your belt , afraid its a few years of austerity for you.With your income it shouldnt take that long .

Post your SOA like others have said and you will get good advice...

Good luck .

Boris_Allen

What are your outgoings? As a salary is of course only worth what it is against your necessary debit turnover. I would agree with others that tightening the belt is probably your best (only) option, but perhaps if you start to list what sort of things your salary is spent on, and are happy to post details on here, then others will be able to advise where cuts can be made, and how you can pay these debts off more quickly!