Personal Loan

co-op_lover

I entered into an iva in March 2012 which ended this march. I am struggling to get finance to improve the house, our mortgage is basically what the house is worth any advice ?

PeacefulWaters

Save up. Beats debt.

co-op_lover

PeacefulWaters wrote: »

Save up. Beats debt.

Need about £5000 very affordable loans out there I just can't seem to get accepted even though I've only got about £1000 of debt at mo but the Iva still on my credit file for another 6 months ish

[Deleted User]

You're highly unlikely to be accepted with zero equity, an IVA and existing debts.

PW is right - you need to save. How much are you currently putting away each month?

[Deleted User]

Pay off your existing debt and start saving.

Why have you still got £1000 of debt having just finished an IVA?

co-op_lover

Moneyineptitude wrote: »

Pay off your existing debt and start saving.

Why have you still got £1000 of debt having just finished an IVA?

I got a credit card when the iva finished been using it and paying it off

co-op_lover

Deleted_User wrote: »

You're highly unlikely to be accepted with zero equity, an IVA and existing debts.

PW is right - you need to save. How much are you currently putting away each month?

iva finished but still on the file for a few more months yet.

Vikipollard

Deleted_User wrote: »

You're highly unlikely to be accepted with zero equity, an IVA and existing debts.

PW is right - you need to save. How much are you currently putting away each month?

You didn't answer this question - how much are you currently putting away each month? That determines precisely how "affordable" £5k loans are, as if you are not consistently saving more than the repayment amount, you don't have it spare.

co-op_lover wrote: »

I got a credit card when the iva finished been using it and paying it off

Except you aren't paying it off, if you have £1000 on it. Unless what you mean is you spend £1000 on it a month and then pay it ALL off by the due date?

co-op_lover wrote: »

iva finished but still on the file for a few more months yet.

Save up. You must've been doing that anyway, since March when your IVA finished, to provide yourself with an emergency fund, right? You've had that money spare.

Not going to sugar coat this - stop rushing to get back into debt. Learn from what was (at least for me) a very painful lesson, and manage your money properly.

poppasmurf_bewdley

You have just finished an IVA and can't wait to start racking up debt again.

As has been said, start saving for what you want instead of rushing headlong into further debt - which you won't get because the banks and loan companies are more financially savvy than you.

System

co-op_lover wrote: »

I got a credit card when the iva finished been using it and paying it off

No you haven't or you wouldn't have £1000 of debt on it.

You're going to have to exercise some patience and for the first time in your life save up for something unless you want to have your pants pulled down by the likes of Amigo and pay back over twice what you borrow.

Quite clearly the IVA didn't teach you a damned thing probably because you didn't lose anything which is one of the reasons I think they should be done away with. Maybe the bankruptcy you're hell bent on heading into with the accompanying loss of car and house might.