Need Help With Money!

Beckford9

Hi, i'm new onto here and i've found it very useful but i just wanted to know if anyone could help me out.........

I earn £15,800 per year and at this very moment in time i have outstanding: £1000 Halifax Overdraft, £300 to previous Landlord, £300 to BT, £210 to family/friends, roughly £150-£180 in Bank Charges and not a penny to my name! I don't get paid until December 15th which means i am getting on the Tram to work without a ticket!!

I'm 19 which means i have a low/poor credit rating and i've been trying to obtain a £3000 loan to sort things out.

I didn't go into this with much thought unfortunately and i have already applied and been rejected by my Bank (Halifax), Alliance & Leicester and Ocean Finance which means my credit rating has probably gone down even more, and i've also been a proper idiot and paid Advantage Loans £49.50 for what they told me is a "guaranteed loan" which i have since read that is pretty much a scam.

All in all, although i could really do with a £3000 loan ASAP but i would also like to know what you would do in my situation......

P.S - I spoke to "Let's Talk Money" advice line who referred me to my local Credit Union which has so far been a dead end to be honest.

Thanks for reading

P.S - This thread should probably be in the Loans part but i've tried that without much in reply.

floss2

If you post an SOA (see MSE Andrea's sticky at the top of the board), we can try & help you.

You'll need all your income, outgoings, debts (& APR's if possible).

Go grab a cuppa & come back when you've got all your bits of paper

Welcome to DFW :hello:

Floss x

P.S. have you thought about a 2nd job in a bar, to help the immediate situation?

Beckford9

SOA? PPI? Any chance you can add the link please?

meyore

Hi welcome to the forums. I don't have much advice for you without your soa, but I have noticed one thing. You say you owe about £2000 so a loan for £3000 may be a bit excessive as you'll just be getting yourself further in debt. Consolidating isn't usually a good plan anyway, which I've found out the hard way. You consolidate thinking you'll pay it all off and that will be it, but then run everything up again... I've done it a few times which is why I'm in the mess I am now!

Beckford9

What is an SOA, can someone post a link on here please as to where i need to go?

floss2

http://forums.moneysavingexpert.com/showthread.html?t=562271

GeorgeUK

PPI? didn't see that mentioned, but
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

SOA
http://forums.moneysavingexpert.com/showthread.html?t=107280

EDIT: too slow again :rolleyes:

meyore

Have you checked your credit reports to see if it is poor, or are you assuming it is because of your age?

Beckford9

I haven't checked it but i am assuming it is because of my age plus all the Loan applications i've made recently. To be honest, if i could just get a Loan i know i could sort everything out! OK thanks GeorgeUK, now at risk of sounding thick, where do i post my SOA?

floss2

APR is the annual interest rate you are being charged on your overdraft, credit cards, loans etc.

Beckford9

I know what APR is!!!!! Hehe