Help with loan :)

KingElvis

Seriously, you sound on the road to financial disaster.

The more you sniff round these crooked brokers, the more money you'll lose.

Johnl86

Surely not everyone that gets a consolidation loan is on the road to disaster ? I'd say the credit score is more fair than poor that any help?

[Deleted User]

Johnl86 wrote: »

I'd say the credit score is more fair than poor that any help?

I think we need to start again. Your credit rating was 'shocking' in the first post and has now improved to 'fair'.

What do you owe, what do you earn, and what is lurking on your credit reports?

Johnl86

We got a mortgage about two years ago and haven't missed much since, we could qualify for a car, sofa etc but not a Halifax loan so thinking credit score is fair not poor what are my options ?

[Deleted User]

We're going round in circles here. Have a look at what this helpful chap posted and provide answers to his questions. Then maybe we can understand what's going on.

Deleted_User wrote: »

What do you owe, what do you earn, and what is lurking on your credit reports?

Johnl86

Deleted_User wrote: »

We're going round in circles here. Have a look at what this helpful chap posted and provide answers to his questions. Then maybe we can understand what's going on.

I owe about 3500 to pay off which works out at over 350 a month at the moment so a lower manageable chunk like 180 a month paying off a loan would be lots better, we're home owners with fair credit, best option for a loan ?

thehappybutterfly

John, you're looking for an easy solution and I'm afraid to say there aren't any. Seriously, look at your income, look at your expenses and see where you are. Taking on more debt to solve a debt problem is not sensible. You said you've read loads of threads on here - and that's admirable. But you're not reading the right threads, or you're only seeing what you want to see.

Get over the Debt Free Wannabee thread and post your SOA up there. Or even just read some of the stories on there. There are a million ways to cut back your outgoings, increase your income and manage your existing debt - DO NOT take on any more debt. It won't work.

And yes, you will be offered suites, kitchens and what all else on credit - you don't pay, they take it away. My MIL could get a three piece suite on credit - and she's on a pension and a debt payment plan.

Please listen to what the very experienced people on here are saying - you'll thank them one day.

thehappybutterfly

And, your relatively small loan will be paid off in what, a year or so? Why take on another bigger loan for a longer period? Just struggle on. I know it makes sense in your head to reduce your outgoings so you can have a better quality of life but believe me it doesn't work like that. Take it from me - a former 3 x consolidator and look at where I am now...... £32k in debt and burger all to show for it except a second hand car, a house that's falling down around my ears and a TV that takes an hour to 'heat up'. Oh and about 40 pairs of shoes and 20 handbags. Oh yes, I did well.........

DCFC79

Its a small amount you owe, well relatively small. Look at where your money is going, if you post an soa on teh dfw board the posters on there will suggest where you could look at cutting back on.