hi can you help??

Question

i need some advice on where i can go for a loan to help me get out of debt .i have a ccj so my credit isnt great and i dont own my home so cant use that .any advice would be apreciated thank you

i have two credit cards at thier limit
council tax debt
catalogue debt
total around £6000

yes i am employed

Answer 1

Hi, I give debt advice for a debt agency and would suggest that you visit your local advice agency or citizens advice Bureau to speak to one of their debt advisers. I would definately not suggest getting a loan to clear debts as this can lead you further and frther into debt. By vivisting a debt adviser they can do a financial statement for you which shows your income and expenditure from this thay can tell how much you can afford to pay each creditor and can contact them on your behalf to negociate smaller payments if needed, etc. This help is totally confidential and free.

Answer 2

This is a difficult question to answer because (1) you haven't stated how much debt you have managed to get yourself into (2) you give no indication as to what your employment status is (3) you don't state exactly how bad your credit is and (4) whether or not the "debt" involves accounts that you have failed to pay on and how delinquent those accounts are, if they are.

So, assuming that you are in debt above $20,000 and you do not own a home, and you have several delinquent accounts more than 90 days each and they are indicated on your credit report as collection accounts that have been charged off, and whether you are employed or not, since you have no collateral to secure a loan nor would I imagine you to have highly valuable assets since you do not own the home you live in, attempting to find a loan to get you out of debt, if there would be a finance company, would get you further into debt because of the interest rate you would charged, and again, if you were able to find a finance company.

However, if your situation weren't so bad and maybe you were just panicking because you are starting (and just beginning) to feel the pressures of monthly payments and maybe only had one collection account (since I am not familiar with what a ccj is - but am very well-versed in credit matters) you may want to consult with a non-profit consumer credit counseling service to assist you on reducing the balance of the account that you owe on and have them help you enter into a repayment agreement with the creditor with monthly payments that you feel comfortable with. Regardless, the consumer credit counseling agency (and again, make sure it is a non-profit community service that is being offered) will figure out a budget for you and try to get you to stick with it.

Is there a way that you could restate your question providing a more accurate picture as to your situation?

Then, I want to let you know that bankruptcy is always an option, and then of course, there are a few different chapters you would file for protection under depending upon your exact financial condition, and that would dictate whether you filed for protection under the Bankruptcy Code under chapter 7, 11 or 13. And even filing for protection under the Bankruptcy Code will cost you money, and you would definitely want to consult with a licensed attorney (versus using a do-it-yourself legal document preparation service) because the Bankruptcy Court is a federal court and in Chapter 13 and Chapter 11 filings it is rare to see those filings by pro-se (self-represented) Debtors. And even for a liquidation bankruptcy where you have no assets and you were unable to repay any of your unsecured debt, it is still recommended to in the least consult with a bankruptcy attorney.

I am only giving you information, and none of this should even remotely be considered as legal advice. I just want to lay the groundwork so that you know what options you have available to you - but even then, they are hypotheticals since I don't know your true situation.

Answer 3

S,D Taylor , Welcome Finance, Provident. all these places will give you a loan if you are working , the last will only give a starter loan of £500.
there are lots of places that offer you a quick loan but ask for a fee, do not apply to any of these and do not send any money, they are a con

there are places found in the paper that will offer you consolidation loans, but you will have to have a guarantor, like your parents. this is also a bad Idea though in case you struggle to pay and your parents get left with the debt.

the best place I would suggest is welcome finance, only because you can borrow larger amounts, but remember these places and anywhere else that you go for a loan will charge you interest so high you might never get it down.

if things are getting out of hand it may be in your interest to visit your local, C.A.B and ask for advice on debt, they might be able to find a way for you to lower your monthly outgoings without getting a further loan.

Answer 4

Do not borrow money to finance a debt never ever. I f in UK go to Citizens Advice they can often help but your proosed route wil just get you deeper in. Make you make a list of who you owe and how much they will help you to set priotities of who must be paid the most and who can be paid the least.
Your concern is to pay off all your debt

Answer 5

Yes you can go for some debt consolidation loan. Try to check the rate of interest and then go. You can also consult with a debt consolidation agency for help.
To know more you can visit
http://www.debtconsolidationmanagement.blogspot.com

Answer 6

Provident or Welcome, but take care, they charge all sorts of arms and legs in interest! Good luck!!