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Joint Loan
Hello,
After some advice please, my partner & I are considering a joint loan to avoid me doing an IVA. As my partner is self employed, does anybody know how many years proof of earnings he needs? Also, can anybody recommend who would be better to apply for a joint loan please? I have been looking at Halifax as we have our joint account with them.
Thank you
After some advice please, my partner & I are considering a joint loan to avoid me doing an IVA. As my partner is self employed, does anybody know how many years proof of earnings he needs? Also, can anybody recommend who would be better to apply for a joint loan please? I have been looking at Halifax as we have our joint account with them.
Thank you
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Comments
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Different lenders will have their own lending criteria. Some might want a year's worth, some three years. It's up to them to decide."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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Hello,
After some advice please, my partner & I are considering a joint loan to avoid me doing an IVA. As my partner is self employed, does anybody know how many years proof of earnings he needs? Also, can anybody recommend who would be better to apply for a joint loan please? I have been looking at Halifax as we have our joint account with them.
Thank you
Definitely don't mean to sound unkind, but if your on the verge of having to do an IVA. Is a loan something you should be considering?0 -
How much do you want to borrow?
Do Halifax do joint loans in branch? Reason I ask is that Lloyds don't and they are the same bank back office wise.
Joint loans are done by phone in Lloyds - again don't know if they can be done online.0 -
You can ring up Halifax to apply, just can’t do it online, although they do have information online for a joint loan.0
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I was hoping a joint loan would be a better option then an IVA then can pay one amount each month rather than the five I do now & it not hurt my credit score as much or impact our future plans with our house. Am I just being stupid?0
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Just wanted a chance to get everything sorted debt wise but feel like I am being pushed towards an IVA. Don’t want to remortgage as that stops our future plans with our house. Unless we win the lottery, I feel there’s only two options joint loan or IVA. I don’t know, not sure what to do0
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You're very unlikely to get further borrowing if you can't manage your existing debts.
Visit the DFW boards for advice in managing your current debts.0 -
I was hoping a joint loan would be a better option then an IVA then can pay one amount each month rather than the five I do now & it not hurt my credit score as much or impact our future plans with our house. Am I just being stupid?
As suggested by zx81, I strongly recommend you post up your current financial circumstances on the DFW board. If you complete an SOA (a Statement of Affairs), then folks can give you advice, support and guidance on the best way forward for you both.
http://www.stoozing.com/calculator/soa.phpI work within the voluntary sector, supporting vulnerable people to rebuild their lives.
I love my job0 -
Remember though, your score is only seen by yourself. Lenders see your history which is what your wanting to improve.
I agree with previous replies, you dont need more finance, what you need is debt advice. More finance will just paper over the cracks and not deal with the reason for the debts.0 -
IVA is one step behind going bankrupt.....does anyone else think a consolidation loan is a good idea if you are nearly bankrupt?
What are your debts, interest rates, earnings etc.
Can you not overpay the smallest debt first and then hit the next one and so on?0
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