LOANS - Bad Credit - ADVICE PLEASE?!

jn1

I'm potentially looking for a loan.. BUT, I have three defaults against me, one of which will drop off my credit file this year!

The reason I would like a loan is because at present, my outgoings on debt is circa 1500 per month. What I would like to do is clear my debt / outstanding balances and just have 'ONE' outgoing of circa £300.00

My outstanding balances / debt is around Catalogs, Credit Cards and Money which I owe my Mother.

I earn circa 90k a year, but even my own bank turned me down for a Loan?!!

Any ideas on the best thing to do, I don't want to join an IVA or anything, just looking for some advice if possible?

[Deleted User]

Pay as much as you can towards the debt. You're on a decent income.

Post a SOA on the DFW board to see where you can cut outgoings.

tell_it_how_it_is

Ideas? Stop telling tall stories?

[Deleted User]

Thank the regulations and those complaining to get extortionate compo..it's having an effect. I'd happily paid my little loan on time, early in fact from some of all my hard earned wage and received a kind !!! off, we're being responsible (can't blame it)
It was turn to Mum or an illegal loan shark I guess.. you can see from the sig which I chose whilst I might not be at your calibre


My immediate thoughts look after the 90k a bit better?

jonesMUFCforever

OP you say that you earn £90k but it seems you spend £91k at least.

You have let lenders down before so why would anybody lend to you unsecured now?
If you did get a loan what is to stop you racking up more debts?

Better if you go over to the debt free wanabee board and draw up a statement of affairs.

DCFC79

Cut your spending, you earn 90k surely you must have some savings.

Pixie5740

Stop borrowing money, you're obviously not very good at it if you already have defaults and have been turned down by your bank.

Paying off debt using a loan isn't clearing your debt at all, you'd still owe the money. What's the big whoop about having one payment instead of several payments coming out of your account?

Put together a statement of affairs and head over the the Debt Free Wannabe board. That's my advice.

dealer_wins

Jackanory Jackanory!

chesky

Why don't you use your £12k savings which you were planning to use for a house deposit?

poppasmurf_bewdley

Earning £90k a year yet still borrowing from mummy?

Is it school holiday time again?

Ebe_Scrooge

You earn 90K but you're still spending more than you earn ??? Blimey, that's not a "decent" income, that's exceptionally high. As others have said, cut your outgoings. I don't know what you're spending it on, but there absolutely must be a lot of luxuries that you can easily cut back on. Are you running a fleet of Ferraris ?