Personal Loan on a personal level?

Tixy

I can see why you think a consolidation loan would be better, but the reality is that it is not an option that you have.

I don't quite get the not wanting to include the payday loan - I'd imagine this might be one of the hardest items to repay/largest monthly payment to repay? anecdotally a number of people have said payday lenders have been the first to accept a dmp proposal and freeze interest.

hettiecarro

Hi
I'm afraid all of the things said in reply to your original post are true. You HAVE to face the facts. You will not get a consolidation loan based on your current circumstances and track record.
If you really want to get out of this mess you need to be realistic.
I don't understand why you are reluctant to pay all of your creditors.
If you look at my signature you will see that I had SERIOUS debt problems (still not cleared yet), and it has taken a lot of struggling and hard work to slowly claw back the situation.
Post a Statement of Affairs on here and then you will get more constructive advice once people know your true financial situation.
Be brutally honest about it and include any arrears you have.
Debt is crippling - but it can be dealt with - but in mine and most people's experience it isn't dealt with by borrowing more.
You really CAN sort this if you are determined.


http://www.stoozing.com/calculator/soa.php
This is the link you need for the SoA.

StrugglingApprentice

Have you tried talking to your creditors and entering an agreement to get them to lower interest rates?

Very different situation of course, but my bank wanted to completely cut my overdraft. After a long phone call i managed to get them to gradually step it down month by month, and now this saturday, the final step down will be made

Point is, its a human at the other end of the phone. To a creditor, something is better than nothing.

Personally, i found the SOA helped me alot. There were things on that list that i never thought about.

Have you got a change jar? Shove your coppers and small coins in there and use it at the end of the month to pay part of your debt. Been doing this myself and its surprising how much change you can get in the course of a month.

Dont give up, and just remember that every payment you make is one step closer to being free

StormyWeather_2

KJo wrote: »

Tixy, I have.
Almost entered into an agreement with a paid one!
Anyway I've had a preliminary chat and applied for information packs (which I am waiting for).
The main reason I don't want to go down this route is that I will still have the responsibility of paying ALL of my lenders (who don't have to agree to the terms) plus I owe money to a family member whom I do not want to let down. plus I am already in final agreements on 2 council tax accounts and I also have my utility arrears to take care of.

The first couple of months are going to be a lot of hassle with a DMP, cancelling DD's and what not plus clearing my Payday loan (im not in arrears on this yet and don't want it included as I'd have to wait for the pay date to pass costing me more money).

In all off my workings a consolidation loan is most stress free, affordable option I can think of.

..But, I got myself in to this mess, right...

Don't use a paid service, contact one of the debt charities. They'll go through your income and expenditure. Help you prioritise the repayments and then they can act on your behalf, so you don't have to deal with the creditors yourself.