maxed out !!!

conti_rx356v3

quite stupidly i have maxed out 3 credit cards totalling 25k i am well paid with a salary of 30k plus around 10k in bonusses, i am willing to take on a loan for the total amount for as long as 10 years is this the right thing to do?? i have already cut up my cards, and can you give me an idea of whom to borrow the money from ??

Fishingtime

I would suggest getting it from god because God knows how you are going to get that much credit

[Deleted User]

Yup, not going to happen with a salary only 5k more than your debts. Time to cut back and start paying down, get a better paying job, and so on.

poppasmurf_bewdley

Deleted_User wrote: »

Yup, not going to happen with a salary only 5k more than your debts. Time to cut back and start paying down, get a better paying job, and so on.

What he says is so very true. Nobody is going to lend you any money when you already owe £25k on a salary of £30k.

I would think you will have to reduce your CC amounts by at least half before any loan company will look at lending you money.

Make a list of what you've spent that £25k on with your CC and I think you'll find you have very little to show for it. In fact, you probably won't even remember half the things you've bought.

It's when you begin to realise this that you will know you've done the right thing by cutting up those cards.

RichGold

yoxford2008 wrote: »

I would suggest getting it from god because God knows how you are going to get that much credit

I wouldn't even try God, firstly as he's often known to ignore prayer and secondly as he's a impalpably abstract concept who like the Easter bunny, Santa, Ant & Dec and the Thunderbirds, doesn't actually exist.

LovelyLeeds

RichGold wrote: »

I wouldn't even try God, firstly as he's often known to ignore prayer and secondly as he's a impalpably abstract concept who like the Easter bunny, Santa, Ant & Dec and the Thunderbirds, doesn't actually exist.

Outraged! How [STRIKE]could[/STRIKE] dare you post such uncaring, unsubstantiated and unfounded [STRIKE]truths[/STRIKE] lies.
Disappointed.

RichGold

I stand corrected.







Apparently Ant & Dec are real unfortunately. More's the pity.

dealer_wins

Hope you maxed the cards out in Stringfellows rather than wasting the £25K on bills. Its all about lifes memories!!

_Andy_

88 miles per hour!

tell_it_how_it_is

My answer, being on £30k with £10k bonuses?

Pay a combined £700-£1000 a month (depending on your disposable income) off each of them (weighted in order of interest rate), and then each time you receive a bonus, use most if not all of it to knock even more off.

And then be chuffed when it's paid off and you're debt free, before asking yourself why did you let yourself get into that mess, and telling yourself it will never happen again.

barbarawright

Read some of the many threads on consolidation loans to find why brorowing more (even if you could find a lender) is a terrible idea. Then head over to the Debt Free Wannabe board. Good luck.