Increasing a loan?

DCFC79

Jem you cold always ask the lender and see what they say.

Firefox1975

Jem - you cannot afford to borrow any more money.

You have very little chance of securing any more loans etc. without being in the payday loan trap which will eventually destroy you financially.

stop borrowing money before its too late.

There, the truth hurts im afraid. Now change your lifestyle.:(

dealer_wins

From desperate Wonga applications to a mainstream loan in under 2 months just aint gonna happen OP.

I would say you need at least 2 years faultless credit history to get a loan from a mainstream lender from where you are now.

RichGold

DCFC79 wrote: »

Thank-you RG, let's see if it can be beaten

We have a winner! - post #1

tommyr wrote: »

Like I said this job is alot better paid than the one I have now and would see me financially secure so paying back would not be a problem and dont want to just let it go.

from here https://forums.moneysavingexpert.com/discussion/3613123

DCFC79

RichGold wrote: »

We have a winner! - post #1

from here https://forums.moneysavingexpert.com/discussion/3613123

Nice find, congrats to tommy in that thread but unfortunately theres no prize involved.

charleyroo

Tixy wrote: »

Before you take the leap work out a really detailed income & expenditure account £1000 won't go far after paying rent, council tax and utilities. If fact they'll eat up probably £600 of your salary, which won't leave much for debt repayments, food, mobile & broadband, travel, clothes & haircuts, entertaining, etc etc

Most of the people we see struggling on the debt free wannabe section of the forum are people whose rent/mortgage is more than a third of their net pay, and yours will be significantly more than that.

On your salary I would consider looking for a flat share / rent a room rather than your own place, it will be much cheaper and you usually won't need a deposit.

Agree with Tixy - you could probably secure a rent a room for £300 per month leaving you with much more to save (a bit more long term) and pay different bits off. I may not be as frugal as some of the MSE'ers on here but I do shop around for the best interest rates, insurance, products and services when housekeeping and it costs me nearly £1,000 a month to run my house without niceties like mobile phones, going out, clothes etc

izzoh

HI Jem,

If you bank online with Barclays then you should have a 'pre-approved' section. This will indicate what your bowwowing limit is with them. If it says nothing is available then that means regardless of how u apply you will be refused. x