bit of a mess!

ktmcl81

Need some advice....i have a loan with northern rock (took it consolidate all my credit, store & catalogue etc debt) I currently still owe them £6000/7000 loan finishes june 09. I stupidly ran up my credit cards again and now struggling to pay all my bills everymonth as well as my loan and left with about £100 which is certainly not enough to live on a month. I was gonig to phone northern rock to see if i can borrow some more which it says i can but i have a poor credit rating but have been paying them every month on time no arrears with them for the past 2 years and i had a loan with them before and paid it on time also - no missing payments. If they decline my amount to borrow £15000 (including the £6000/7000 i owe them) should i go to one of these ones on the internet which give loans to poor credit rating people. Wish i had never used my credit cards again - in a total mess and not sure where to go

Any advice would be great!

biglad

firstly welcome

i wouldnt borrow anymore money as by the looks of things this will not help and get you further into debt

Try to post up a SOA (statement of affairs) and we can see if there is anywhere to help reduce your outgoings

also i would reccomend ringing payplan who have been great with me and are a charity orginisation who dont charge

there is also cccs but i cant speak for these as havent used them, but whatever you do DONT contact any of the companies advertising on the tv as they charge a fee

hope this helps

perfectlypoor

I am currently with the CCCS www.cccs.co.uk and they are a great help and do not charge anything.

lauradora

Good advice! Dont whatever you do borrow more to get your self out of a situation. Post your SOA and we'll be able to help you out a lot more by showing what you can cut down/save on xxx Laura

Karmacat

Yep, just popping on to confirm what's been said - don't borrow any more, make out your budget - a Statement of Affairs, we call it - see the "sticky" post for newbies at the top of this board for how to do it - and lets see what we can do.

Two things that'll probably be said tho: you might need to look at ways of earning extra money, whether through overtime or a second job, and you might want to start keeping a spending diary, so you know *how* you run up those debts each time - its amazing what coffees out and the odd DVD come to. Without that, all the advice in the world doesn't help too much.

Good luck, and keep posting.

CCCS_Alan

Morning Ktmcl81

Don’t panic as you’re in the right place for advice.
As the posters before me have advised is don’t take on another loan, all you are doing is compounding your current interest with more interest making it a longer period of time to clear your debts.
One of the first things you need to do is destroy your credit cards and return them to the lenders. This will hopefully stop you situation getting any worse.
Have a look on the other boards for ideas to save money as well, plenty of money saving gems to be had for everyone.

You do need to take some impartial advice on your situation and the sooner the better. Biglad and Perfectlypoor have given a couple of good ideas for you to look into.
You can try our online advice facility called Debt Remedy where you can complete a financial statement and be provided with advice on the best way to deal with your situation.

Good luck and keep us updated

CCCS_Alan

jacnorm

Everyone on here has been in the same situation as you and the best advice I can give is as the above posters have said destroy the credit cards dont take on anymore debt and get in touch with CCCS they are great. They really helped us.

tigerfeet2006

biglad wrote: »

firstly welcome

i wouldnt borrow anymore money as by the looks of things this will not help and get you further into debt

Try to post up a SOA (statement of affairs) and we can see if there is anywhere to help reduce your outgoings

also i would reccomend ringing payplan who have been great with me and are a charity orginisation who dont charge

there is also cccs but i cant speak for these as havent used them, but whatever you do DONT contact any of the companies advertising on the tv as they charge a fee

hope this helps

Can I just add Payplan is NOT a charitable organisation, they are a commercial one. It's just they are one of the best of the commercial.

biglad

oh thought they were a charity organsiation, well they are a non profit organisation arent they

i dont pay a fee to them, since when were they not a charity??