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Looking for some consolidating loan

Hi there, I am new on this forum and not a native speaker as well.
The thing is that at the moment I am deep in debt with many creditors and I also owe 2000 GBP out of 5000 GBP to my cousin which helped me when I needed the most!
I also have an overdraft of 2.5k available with RBS and earn like 1.7k/month on average.
Though, Im really struggling to make the repayments towards the creditors and keep the overdraft untouched at the end of the month. Basically, from september Im working just to pay my creditors and as a warehouse operative as well.
And all this happened after I took advantage of my credit history, having 3 years in the UK to help one of my friends, who just moved in UK. I've made some phone contracts under my name to get some expensive phones for him and even got a loan of 2k with GuarantorMyLoan under my name (Im the guarantor but paying by direct debit) in order to help him but now he is jobless somewhere in England and got no sign from him since october and I have to face this tough situation all alone. 
The phone contracts I've made between august and september are:
X2 Vodafone with a total of 146/month
X2 O2 with a total of 140/month
X1 Three with a total of 73/month
X1 EE with a total of 49/month
And all these phone contracts are foe 2 years.
Then, to keep up with the payments towards the existing creditors, I had to get another loan under my name of 800 GBP which has a total outstanding balance of 3.7k, the Loans2Go loaner! Never borrow from them!
I've also borrowed 5k, interest free from my cousin which I still owe 2k. Im paying in 500 GBP monthly installments regarding this borrowing.
So after all this things I've made in august-september this year, now my credit score is poor and I cant get a consolidating loan to get some breathing space although I know for sure than I can afford to pay 300 GBP/month to the potential consolidating loaner over what I already have:  207 GBP which is rent+utilities, tobacco and food which is 200/month roughly!
So, what I desperately need is a boost cash of 6 or 7k. This way I can pay those 2k left to my cousin, pay 1.1 k in one-off payment towards L2G in order to avoid the outrageous interest and still got some money left to think the things ahead but unfortunately couldnt get it so far.
My credit score is poor although I have no missed payments so far, just paused and delayed. But, since I have so many creditors my credit is overused at the end of the month so the poor credit score.
So, maybe you can help me with a loaner I never thought or some advice. Do you think I can give  West Lothian Credit Union a shot!?
Thanks in advance :)

Comments

  • You won't get any more loans.

    Head to the DFW board for advice on dealing with the debt 


  • Hi
    A loan is not a good option. There are lots of options. Post this on the Febt Free Wannabe board (not the loan board).
    People will give advice to clear the debt. 
    You need (I think) to look at any overtime you can get or a second job. You need to cancel the phones (I know there is a contract).
    You need to pay your cousin back more slowly. Explain your situation.
    You need to cut your food Bill's to 80 a month for the next 3-4 months and cut out tabacco.
    Your sums don't add up either...you need to account for where all your salary is going.
    Your 'friend'.is a drug dealer or some other criminal? Why he needed 8 phones??
    March 2020 - 21k of debt; September 2020 - 14k of debt. Debt free target date September 2021 
    Diary of paying down debt whilst living abroad:https://forums.moneysavingexpert.com/discussion/6181237/5-000-miles-and-even-more-pounds#latest


  • sourcrates
    sourcrates Posts: 30,615 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    edited 16 December 2020 pm31 11:00PM
    Hi,
    No, what you desperately need is to stop this recurring cycle of debt, this needs to end now, you can’t keep borrowing money to repay existing debts and hope it will be alright, because it won’t.

    You have made some bad decisions, don’t make another one.

    Its debt help you need, not more borrowing, either contact one of the free debt charities in my signature for advice, or post your SOA on the debt free wannabe forum and ask for help there.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it 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.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • MEM62
    MEM62 Posts: 5,120 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    As your experience thus far will have taught you, you cannot borrow you way out of debt.  Now now need an alternative approach to dealing with your situation.  As advised get over the the DFW boards where you will receive some excellent support.     
  • sourcrates
    sourcrates Posts: 30,615 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    OP has posted on DFW.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it 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.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
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