Halifax are giving me 2 weeks to pay off my £1,800 overdraft!

rubenstine

All I need is hsbc to do the same , I will be in extreme trouble ..

Have excellent credit rating but cant get a loan ,due to the the fact
Im using all my overdraught ,which I was going to clear with the loan
catch 22 i.m.o

sadly its a lot easier to click the increase button in hard times than
it is to press the decrease button ..

Money_Grabber13579

Try Zopa for a loan...quite a few people seem to use it for debt consolidation, although as with the banks, there's still no guarantee you'll be accepted. Just mentioning it as another option!

opinions4u

rubenstine wrote: »

All I need is hsbc to do the same , I will be in extreme trouble ..

Which highlights why relying on overdraft for anything other than an occasional miscalculation is a bad thing.

Have excellent credit rating but cant get a loan ,due to the the fact Im using all my overdraught ,which I was going to clear with the loan catch 22 i.m.o

Reduce your overdraft by whatever you were going to pay the loan with. Spending less each month is the answer.

sadly its a lot easier to click the increase button in hard times than it is to press the decrease button ..

A bit of self control goes a long way.

PollyOnAMission

kaylz39 wrote: »

It's when you start earning £15,000 a year and it is peanuts each month but its still quite a good amount of interest. I have friends that got a £16,000 student loan and are expected to pay back £35,000!!! Over like 50 years mind, but its still a ridiculous amount and hardly worth it. Degrees are worthless for most nowadays...but thats another thread!

Really happy that you got things sorted
As for student loans: yes they accrue interest, but as it's linked to the rate of inflation there is no "real" cost of borrowing. So the £16k your friend borrowed in, say, 2000 would buy the same amount of stuff as the £35k would fifty years later. Although the number goes up, the "value" of the amount stays the same.