Fair Credit

stephaniejane66

I am looking for some advice as to the best way to consolidate my debts. I am currently living with my partner who pays all of the bills and rent etc. I have been living with him for 9 months after giving up the tenancy on my previous home. I lived there for 1 year. Prior to that I had a mortgage which was repaid when that house was sold following a divorce. I paid off most of my debts but have experienced various problems causing me to accumulate a £12K debt which I am desperate to get rid of/reduce the payments on. Ideally I would like to take out a loan over as long a period as possible to reduce the monthly payment. Pay as much as I can into my ISA and pay off chunks as and when I feel able to. My daughter gets married next year and I would love to be able to help her if I can. I have fair credit at the moment. I have no missed payments in the last 7 months although my credit score shows only the last 5 so once this is updated it should hopefully increase my score to good. What goes against me now is only being in my new job for 8 months (12 years in my previous job) and only 9 months at my current address after moving in with my partner (1 year in my previous house and 22 prior to that). Any ideas of what would be the best way forward? Thanks in advance.

DCFC79

stephaniejane66 wrote: »

I am looking for some advice as to the best way to consolidate my debts. I am currently living with my partner who pays all of the bills and rent etc. I have been living with him for 9 months after giving up the tenancy on my previous home. I lived there for 1 year. Prior to that I had a mortgage which was repaid when that house was sold following a divorce. I paid off most of my debts but have experienced various problems causing me to accumulate a £12K debt which I am desperate to get rid of/reduce the payments on. Ideally I would like to take out a loan over as long a period as possible to reduce the monthly payment. Pay as much as I can into my ISA and pay off chunks as and when I feel able to. My daughter gets married next year and I would love to be able to help her if I can. I have fair credit at the moment. I have no missed payments in the last 7 months although my credit score shows only the last 5 so once this is updated it should hopefully increase my score to good. What goes against me now is only being in my new job for 8 months (12 years in my previous job) and only 9 months at my current address after moving in with my partner (1 year in my previous house and 22 prior to that). Any ideas of what would be the best way forward? Thanks in advance.

Ok I'll be honest with you, first of all get rid of the "fair credit" rating as no 1 sees it, lenders see your credit history.

£12k worth of debt and you want to take out another £12k right (or more) ?

Do you not have anything left from the house sale ?

Most important question is whats your salary ?

Best option may be to default or post on the debt free wannabe board and post up an SOA.

[Deleted User]

Don't put your money into an ISA while you have debts, unless they are at 0%.