help me!!!

tinkerbell18_2

when i turned 18 I decided to get a loan out to help a member of my family, so i got a £3000 loan out over 3 years but im in trouble the loan interest rate is 42%. Iv recently lost my job as well and managed to rack up a £900 overdraft plus a £156 phone bill and also another bill of £101!!! What can i do? I need a loan asap to consolidate all my debts- I live with my parents not a homeowner where can i find a loan thats suitable for a bad credit history!! I need £6000. Sorry that this is so muddled but im panicking

millymoomoo_2

Hi Tinkerbell,
A consolidation loan may not be the best way for you. Have you had a look on the debt free wannabe board they may have some ideas for you.
Which company have you got your loan with at the moment?

nomoneytoday

I would suggest you get down to your nearest restaurant or shop, get a job of some sort and get paying this back.

How do you expect anyone to lend you £6000 without means of paying it back?

jamief

First things first - you need a job. Then you can think about consolidating your debt with a more reasonable rate. You won't get a loan without a job though.

tinkerbell18_2

thank u for ur replies, I do have a job!! but the person who i got the loan out for hasnt sorry i didnt make that clear!!

tom188

Try the DFW board and post a statement of affairs so people can point out where you can cut back. A consolidation loan will probably cost you more and keep you in debt for longer and unless you cut up your cards and cancel any other credit you have could cause you to get further into debt. Bad credit history = extortionate interest so really if you can pay back ASAP this will be by far the best answer.