loans

19lottie82

use "half of your annual salary MINUS your current debt" = what a bank will usually be willing to lend you......


so basically, if you have 17k debt and earn 18k, you have no chance, sorry.

bargainbetty

Would you consider downgrading your car? Do you have things to sell on eBay or do car boot sales to raise some money to throw at the more expensive debts?

Can you take on a second job - perhaps bar work a couple of evenings a week? It would get you of the house, have some social time and earn you money. I've done it, it can be quite fun.

Sorry to echo what every one else on here has said, but you won't get that kind of loan. The old chestnut of 'consilidate your loans into one easy payment' isn't used that much anymore, largely because it was complete cobblers. It costs more and most people didn't address their spending and ended up with more debt. Me, I did it twice! Banks will not lend you money to clear your debts because people often didn't close the credit card accounts, and just ran up twice as much. Now, you can often only get 50% of your salary, less whatever debt you have.

You need to look at your spending (not just those bits you list, but nights out, clothes, deodorant, food with mates, everything) and work out where you are living it up. If that big loan is your car, selling it and clearing the debt, or reducing to a different car and clearing some of the debt might be a good plan. It is a huge drain on your resources.

Good luck