I have much debt, and I need this to pay a bit off.Tried citibank,but no deal with job under 2 yrs and a job with small wage plus bonuses that fluctuate. Approx 40,000 yr. Been concentrating on making bills and not picking up new debt. I can make my monthly bills and save 1000 or so but I need it in about a month.Monthly bills about 1500 (min, eating ramen noodles). Changing my spending habits to save more. But like everyone I want to get ahead.Can pay it in 18 months with 24% interest. I just cant get approved. Job for under a year with last job for 2 yrs. Fallen for 1 scam. I am wary of scams. Any options?
2007-10-25 04:37:48 · 13 answers · asked by Regular Guy 2 in Business & Finance ➔ Personal Finance
Sell whatever you can. Playstation, games, radios, old clothes...a garage sale is great for these. You need to liquidate as much as you can. You may even need to move back with Mom if you can...get that Rent off your list of debt cuz its always a big one. If you have a nice car, sell it and get a cheaper (but still runs good) car. ie: a new neon or sumthing...small but works. I agree with the previous post. Applying for credit and not getting it should be a sign to you to Quit Applying. Get rid of the cell phone...or only use it sparingly. Change your minutes plan to about 200min..=> $15-$25 or go prepaid 100min for $14.99.
I think you just spent a lot of time living Beyond your Means. You should Only Ever be buying things in Cash. Not Credit...when you buy with Credit..its just buying something that you really couldn't afford in the first place otherwise you would have had the cash to pay for it!
:)
2007-10-25 04:48:08 · answer #1 · answered by nickname 3 · 0⤊ 0⤋
You are having some financial difficulties. Go to a smaller independent bank to try. Talk to a loan officer honestly about your debt and finances before they pull a credit check. Go in with a plan of how you expect to be able to pay the debt off. At the very least, they might be able to help to improve your situation is other ideas of how to decrease your debt and improve your credit history. Call the companies where you have your bills and ask for lower rates or other concessions they could make to help. Some will do so in order to secure their loss from bankruptcy if you're that close. Is the company you work for a very employee friendly place. Would your boss cosign or lend you the money to ensure your future of working for them. Talk to organizations you might belong to. Religious organizations are known to help in times of crisis. Would you be able to pick up a second job to earn extra money? Do you have material possessions that you'd be willing to sell? I hope the solutions comes to you.
2007-10-25 11:48:45 · answer #2 · answered by christyo58 3 · 0⤊ 0⤋
Your best bet is to cut expenses and get another side job during christmas. 10,000 is not much but getting a loan @24% is digging you a hole that will be harder to get out. A family memeber was in the same situation as you and got another loan which caused even more headaches. Work a part time job with a store right now through christmas and you could get ahead and also tell everyone no christmas gifts are being exchanged this year which will save you even more money. Its tough but you can do it if you put your mind to it.
2007-10-25 11:45:26 · answer #3 · answered by john a 6 · 0⤊ 0⤋
And you won't get approved with a poor credit rating. Sorry. Borrowing to pay off debt just lands you in more debt - if you're talking about paying 24% interest on this new loan if you could get it, you might as well just apply that payment money to your existing debt.
2007-10-25 12:28:04 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
get a credit card that makes you give them like 300 dollars or so in good faith then after about a year or so they credit that back to you if you are on time with them and your credit limit will increase with time. It takes time to get it straight , just can't go do it in a matter of days. Try picking up some side work if necessary and try talking to a financial adviser on some other options, your bank that you deal with may be able to counsel you at no charge to keep your business, always ask why you got turned down for credit and get it in writing to review, and ask for your credit score as that is most important. I hope this helps a little, not to good with this anyway.
2007-10-25 11:45:26 · answer #5 · answered by speclt1970 2 · 0⤊ 0⤋
When you at that points..stop trying to apply for credit...applying and not being approved is damaging to your credit as well. Find away to resale items on ebay or get a second job. You will have to earn the cash as this point to get some of the debit paid off
2007-10-25 11:41:50 · answer #6 · answered by Anonymous · 1⤊ 0⤋
taking into considerations of 24% of around 10 grand debts. 2 yrs is hard to pay back with around 3k pay right? and is a credit card debts is it? limited info so can't do much
2007-10-25 11:59:32 · answer #7 · answered by revelc 3 · 0⤊ 0⤋
See a debt counselor, consolidate your loans to one payment, and dig your way out. It appears you have borrowed enough.
2007-10-25 11:42:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Please dont take on another loan!!! No more debt!!! If you are really struggling you might need to get a second evening and/or weekends job x
2007-10-25 11:40:32 · answer #9 · answered by juicy_satsuma 3 · 0⤊ 0⤋
Pay the debt.
2007-10-25 11:40:43 · answer #10 · answered by benejueves 6 · 0⤊ 1⤋