Husband has bad credit rating and can't afford loan on my own

[Deleted User]

Valleygirl1981 wrote: »

I don't believe in not working because I have a child. I want them to know you need to work to earn things

That's a very laudable attitude, but, if it's costing you more in childcare costs, than you are earning by working, it's not financially sensible.

As for the consolidation loan, I've been there (and refinanced it twice ) and can tell you they don't work.

I recommend you post an SOA on the DFW board, take the advice you'll be given, and pay down your existing debts.

If there's one thing I've learned, it's that you can't borrow your way out of debt.

ampersand

Op - we'll say your bristly reply to one point in my post is not a wilful misreading:-).
Your post was not about paying for childcare.
It was about debt and casting around for more, fruitlessly so far - thank your Bank.

You are seeing broadly consistent unanimous advice here, to get yourselves ALL, as a family, onto the mse debt free Honours Board.

We all congratulate anyone who has a lightbulb moment.

Are you sure you've had yours yet?

.

.

20aday

Good afternoon OP.

When I was 18 I thought a consolidation loan was the way forward to being "debt free" until I ended up with even more of it around my neck; it got to the point I ended up on a DMP.

As mentioned above it'd be worth your time creating a SoA and seeing where other people can help you save money.

Just out of interest... how much is your credit card debt and overdraft?

-taff

Kesington do adverse lending, so your situation doesn't seem to be new. I think you may have overextended yourselves in buying the house and with children. Puting fes for the purchase on a credit card means you weren't fully prepared for the total price of purchase.

Consolidation loans do not work in a the vast majority of cases.

Go to the debt free wannabe board. It's your best chance.