credit card/loan help

justlookin_3

firstly i aplogise if this info is out there already.

i have been reading the forum for many years and use it for advice on a regular basis.

i have been "shuffling" credit cards for YEARS onto low rates etc but have recently been refused new cards (rates on my cards start to finish in august)

Cards and overdraft debt amount to approx 9k!!!!!!
then i owe family abouth the same:o

i am in the middle of building an extension on our family home (not my brightest idea but we needed/wanted the extra room) and i wanted to take the wife on hols next year for her birthday.

i was looking at a long term card but having no luck so i contacted my mortgage provider re a secure loan at 9.7%

i want to consolodate my dates ??

any advice welcome

bouncydog1

Rather than trying to consolidate, you need to address what has caused the issues in the first place, which seems to be living beyond your means - switching cards rather than paying off the balances.

The refusals could be the wakeup call that you need. Suggest you get over to the debt free board with a full statement of affairs - use the sticky at the top - and get the people on there to help you cut down and start paying back rather than getting more credit.

Oh and it is very difficult to consolidate debt now - lenders are very picky about who they lend to and if you have been refused further credit in the form of a new card, it doesn't look too promising.

DarnIt_3

Have to agree with Poster above. You need to stop loading things on cards. Make payments off your cards instead only when you get your debt down are you going to be considered for a new account.

The idea about taking your wife away is nice, but surely you would rather have lower outgoings sooner than going on a brief holiday.

You need to arrange your priorites then one day you can go on holidays with cash out of your own pocket.

Apples2

You can't seriously be considering using a Secured loan for a holiday?

It's the very definition of madness.

paddyrg

Sorry to say, I think all those loans are coming home to roost and there is going to be little to do to avoid them. What can you sell to get them cleared? I would seriously forget a holiday next year :-(

justlookin_3

it certainly does sound like i am reaping what ive sown so to speak.
need to know what to do with debt i have as the good rates i am on r running out soon. i was looking at loan to cover it all, so i know waht im paying then can finally do a budget (as ive not done one in approx 8 years)
i do have a spend now sort later attitude to cash/life and need to address that, soon!!!!

justlookin_3

i keep thinkg of what i can sell and am currently looking ebaying stuff!!!
ANY OTHER SUGGESTIONS ON HOW I CAN UP MY INCOME ARE MORE THAN WELCOME, I CURRENTLY WORK APPROX 80HR A WEEK (sorry didnt realise caps lock on)

skintandscared_2

justlookin wrote: »

i keep thinkg of what i can sell and am currently looking ebaying stuff!!!
ANY OTHER SUGGESTIONS ON HOW I CAN UP MY INCOME ARE MORE THAN WELCOME, I CURRENTLY WORK APPROX 80HR A WEEK (sorry didnt realise caps lock on)

I increased my "income" by £200 a month just by going through my bank statement, cancelling a direct debit and switching my utility companies. Do you have gym membership(s) you could cancel? Literally the easiest way to instantly increase your income is to decrease your outgoings. Get checking that bank statement!

justlookin_3

i shop around for gas etc, though i do need to assess my life insurance (do people shop around for this) as i currently pay around 70 for me and the wife.
no gym membership,

justlookin_3

think i'm going to empty garage and kids rooms to EBAY!!!!!!!

skintandscared_2

I've been going through 2 boxes of DVDs (lots of boxsets) this evening and checked some prices on eBay. I have about £250 worth! Guess what I'm doing this weekend