Need some serious money help!

jonesygtfc

I brought the car for £500 it's only a clio, the alloys is the only thing that was modify and they won't let me change the wheels to factory ones! So got to find another 500£ for the next cheapest insurance

BrassicWoman

change the car. you cannot afford it.

Pixie5740

But you don't have another £500 and nobody will lend you £500 at a sensible rate given what you've told us. Why won't the insurer just let you change back the wheels? Would another insurer insure the car with non-alloy wheels? Then you could sell the alloys and put the money towards debt repayments. Alternatively sell this £500 and buy a £500 car you can get insurance for.

You need to stop borrowing money. All a £5k loan will do is shift the debt from one set of lenders to another lender assuming you can find someone to lend you £5k in the first place.

Well done for tackling your gambling addiction. Now you can start tackling your debt problems too.

TrickyDicky101

If you've had insurance cancelled then this is reportable each and every time you apply for new car insurance. The pool of insurers who will be prepared to quote you will be much smaller now and at 19 you must already face high premiums. The next cheapest quote may have been only £500 more at the time but now it is either likely to be much more expensive or not available at all.

MEM62

jonesygtfc wrote: »

due to Gambling problem (which is now taken care off)
Are you sure? You really need to be.

Whats best options. I was looking to get a £5k loan to wipe everything...
You cannot borrow your way out of debt. Post an SOA and the guys on here will give you great advice on dealing with the debt.

Thanks

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