I really need help

Ali.Rosen

This is abit of a long story.

Here are my basics of what i ow

Egg loan- £5000
Cahoot loan-£6000
Halifax credit card - £1200

Cahoot account- Minus £500
halifax current account - Minus £1000


Im paying £400 per month for my loans (the cahoot is 14.9%) My halifax card is still on 0%APR and i'm paying min payment. basically when I get paid it just clears my halifax current account and I use that £1000 in the month.

I also pay £200 per month to my parents for my car (I ow £3000).

Right now here's why i now need help- (even though I knew i did anyway)

I work as cabin crew and i have added up my loans spending and having a really good lifestyle. I do kind of regret it but I've had such a good time and seen places all over the world. I live in Manchester with my parents and I have just been offered a job down in london as a flight attendent and although the money is only abit better, its a great start for me to get into the field i want to work in. there wont be anymore partying lifestyle but I'm worried about how I can afford to relocate. (espec as it'll be on my own)

I'm wanting to get a loan to consolidate all the above finances so I have a payment of around £150 per month. The thing is i tried to consolidate them around oct/nov time and i was refused by a few places - northern rock, egg, abby national, smile there was also a few more as I didn't realise that it brings your score down everytime you apply. Infact towards the later ones I was applying for it instantly refused me.


Does anyone have any advice with what I can do to sort my finances as I really don't want to start applying for loans again and getting refused. (I wish I could put all my payments on hold for a year)! I really dont feel as I can make the move at the mo but this is a dream job.

PS. It's not possible to ask my parents for more help. I could never tell them about the loans. I know some people will say just tell them but i'd rather turn the job down than do that.

Please please can anyone offer me any advice.

hopeless_case_2

have you tried a broker who you tell your details to and then before they do a search will tell you if they can help. Also try ucc loans they are brokers.

Astaroth

Sell the car would seem a fairly obvious one.... if you are in London you will really not need one, this will clear some of your debt and hopefully give you the money for a deposit.

Moving home really shouldnt cost much at all especially as you are going from your parents and so presumably dont have a lot of furniture to transport (but even if you do you can hire a tailgate luton box van for under £100, get it in the evening, load it up, leave in the morning, unload and return it)

Ali.Rosen

thanks. i can't sell the car as i need it for the job, they request you to be able to drive and have your own car.

Its not a problem moving. I just cant see myself affording what i'm paying back now and also rent on top. I want to reduce what i'm paying back now to around £150 per month. I just can't see myself getting a loan. I asked on the DFW board whether a should go into my bank (halifax) to see if they can help, somebody said thats not a good idea.

i should be happy that i've got the job I waited for an interview for for 2 years but now i'm more stressed than ever i just want to cry!

xgingerx

Hi, get your credit file and note when all your credit searches were (searches for credit only that is)

Now if you made all your searches in oct nov, then Ideally you need to leave it 6 months from the last one to maximise your score before you try to apply anywhere else as you are now in the rejection spiral which means you will now get refused based on the number of searches in the last 6 months which sounds quite a lot.
You should get your reports anyway to check this is nothing on it that you think is incorrect, make sure u r on the electoral role etc etc.
Next time, if you get refused dont apply anywher else until you find out why you have been refused as you will be in the same situation of too many searhces again.

Again try and wait 6 months from your last search before you go anywhere.
If you try now you will be refused or end up paying a massive apr, if you are desperate you could go to Citifinancial which might help u out, you could get a loan off them (apr might be highish) and when your credit score improves you could get another loan at a lower apr.