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Debt Consolidation Loan
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OhkayDohkay
Posts: 3 Newbie
Hey everyone, New to this forum so please bear with me! :T:money:
I made some really bad mistakes when I was younger and my credit rating is still paying the price. However I am now looking to sort the remaining debts out.
I have an atrociously bad credit rating but I was wondering if there was a debt consolidation loan that was likely to accept me. I don't own my own property but I do have a full time job.
All advice would be really :beer:.
I made some really bad mistakes when I was younger and my credit rating is still paying the price. However I am now looking to sort the remaining debts out.
I have an atrociously bad credit rating but I was wondering if there was a debt consolidation loan that was likely to accept me. I don't own my own property but I do have a full time job.
All advice would be really :beer:.
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Comments
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How much are your debts, and what's your salary?"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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Around £4000 and salary is £23,0000
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Debt consolidation loans don't exist, you might be better off posting on the debt free wannabe board.
Maybe look at getting a 0% credit card but must be a paricular 1, i think its a balance transfer card and transfer some of the debt over.
Your credit rating is neither here or there, your credit history is what lenders can see and not the score.0 -
Why do you want to consolidate your loans?0
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I just thought it was a good move to have them all under one instead of lenders. However I've just being reading other threads and I guess it's not a good move. I'll just maintaining the repayment plan I've set up and I'll get there eventually!0
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OhkayDohkay wrote: »I just thought it was a good move to have them all under one instead of lenders. However I've just being reading other threads and I guess it's not a good move. I'll just maintaining the repayment plan I've set up and I'll get there eventually!
What's the % of each loan/debt ?0 -
What is the chance of having an "atrociously bad credit rating"and not have a really bad credit history?Your credit rating is neither here or there, your credit history is what lenders can see and not the score.loose does not rhyme with choose but lose does and is the word you meant to write.0 -
Id post a SOA over on the debt free wannabe board..
A salary of 23k and debts of 4k, I really dont think you need a loan.
Depending on your outgoings, you could have this debt paid off within 12 months.
See my sig, I had a debt of £15k, salary of around £18k at the time and managed to pay it off in 3 1/2 years. Yes it was tough, very tough but theres no feeling like making that last payment.Old Account RecoveredDebt at LMB April 2009= £14,980Debt free Sometime in November 2013£69k left of 90k Mortgage - Overpaying by £270 a monthCurrent Savings = £13000MSE turned my life around years ago0 -
Go away spammerloans are always a good option, don't try to bite off more then you can chew with repayments. Also you can have the loan come out on the first of the month so you know what you have left for the month."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
Your debt is less than 20% of your annual income, there have been people in alot more debt to income ratio, so don't panic.
You also wouldn't be the first person to make a few mistakes when they are young........you won't be the last either
Getting a loan is not paying it off, it is simply moving the debt. There are no benefits to having all your debt in the same place, especially if it will cost you a higher APR.
With some hard work and frugal living, you could be debt free within a year as previously said. Most of the previous advice has been good, post a SOA on the DFW board, cut back, create a budget and more importantly STICK to the budget.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0
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