money problem......

LegacyUser

mightn`t be the biggest problem in the world but would like advice or where to turn.
it`s absolutely wrecking my head.

need a €1,000 FAST!
bank has just refused me.

what do ye think of loan sharks?

i have an overdraft that i can`t clear, credit card maxed, bla, bla. need help.

if i can get €1,000 with a weekly/monthly repayment, i`d be sorted.
just got myself into a hole and it just seems to get deeper with bills, etc,etc.
the overdraft means my direct debits are always paid but i`ve no cash for shoppping etc and the GF is getting well pissed with buying the shopping every week.

a thousand would straighten out my overdraft and i would be 100% back on track.
i think being constantly €1,000 or there abouts overdraft a month, that`s why the bank refused me.
is there people that will give it to me without all the hassle of paperwork sh*t and all that.
i have an excellent credit history but i don`t want it going down the pan if i can straighten it out now.

any ideas/advice on where to turn will be greatly appreciated.

Bluetonic

Someone will give you good advice over on www.askaboutmoney.com

My advice would be to go to your local credit union or reappraoch your bank and if needs be get someone to go guarantor for you.

bp

cut up the credit cards and dont go to a loan shark! could you ask your parents for a loan?

Zulu

A loan of a €1000 won't help you. It'll just give you another bill to add to the rest and put you a €1000 more in the hole. What you need is a grand for free and thats not likly to happen.

Work out what you're spending your money on, and start cutting back. I was in the hole for a while. I found that limiting myself to a set amount per week help enormously.

ballooba

Aren't the repayments on the credit card more expensive than on the overdraft?

Japonica

Cut up the Credit cards is great advice. Pay off the interest on these first. Did you try to get a credit union loan? If you can, use the loan to pay off your credit card and you will immediately notice some relief.

Keep a diary for about 2 weeks and see where you are spending your money....

Try to get out of debt as it won't help you if you are looking for a mortgage etc in due course.

Act on this today as Christmas is coming and it would be great to have a new outlook on how to spend prior to this expensive time

0utshined

head-wrecked. wrote:

what do ye think of loan sharks?

This is the worst idea you have ever had.

Reduce your spending but don't go near a shark to pay back an overdraft. Contact MABS if you need assistance.

audge

head-wrecked. wrote:

mightn`t be the biggest problem in the world but would like advice or where to turn.
it`s absolutely wrecking my head.

need a €1,000 FAST!
bank has just refused me.

what do ye think of loan sharks?

i have an overdraft that i can`t clear, credit card maxed, bla, bla. need help.

if i can get €1,000 with a weekly/monthly repayment, i`d be sorted.
just got myself into a hole and it just seems to get deeper with bills, etc,etc.
the overdraft means my direct debits are always paid but i`ve no cash for shoppping etc and the GF is getting well pissed with buying the shopping every week.

a thousand would straighten out my overdraft and i would be 100% back on track.
i think being constantly €1,000 or there abouts overdraft a month, that`s why the bank refused me.
is there people that will give it to me without all the hassle of paperwork sh*t and all that.
i have an excellent credit history but i don`t want it going down the pan if i can straighten it out now.

any ideas/advice on where to turn will be greatly appreciated.

You sound just like my boyfriend, infact, if I didn't know better, I would swear you where him.....?????

You will borrow this money and it will just be an extra few feet added to the depth of that hole you have already dug yourslef.
Your right, this isn't fair on your girlfriend, the problem with relationships is that your problems are no longer just your problems, they are your parthners problems too, even down to the most trivial levels, i.e. she wants to go out, go away and you can never afford to do or go anywhere.
How did you wind up so broke? Can your parents help you? a family member? I suggest family because it wont make you crdit rating any worse and they may be more understanding regarding repayment.
Myself and my boyfriend ran a college social, charging 5euro admission on the door, we raised about a grand, which lifted the financial strain right off my boyfriends shoulders.
I don't know if something like this is an option for you?
You live with your girlfriend, is moving home an option? Saving on bills and rent?

Eoin

ballooba wrote:

Aren't the repayments on the credit card more expensive than on the overdraft?

In general they would be much higher (approx: 16% or more for credit card, 11% or so for an overdraft I think).

O.P. If you don't mind going un-regged, then post in the "Business/Econony/Finance" forum, under the "Biz" header at the top. You should get some ideas there.

A term loan to pay the credit card bills would be cheaper by a long way, but there is a good chance you will then rack up the credit cards again, and you will be left with another loan. The only way around this is to clear the bills and cancel the cards. If you need a credit card, then look at the prepaid ones. The charges are expensive, but you can't run up a bill at least.

Also, do you have the time to work extra hours? A bit of extra income, especially around Christmas, would certainly help.

And, as another poster said - look at your spending habits. Look at things you can either buy cheaper elsewhere (i.e. no-brand groceries etc) or stuff you don't need at all.

scargill

head-wrecked wrote:

is there people that will give it to me without all the hassle of paperwork sh*t and all that.

unfortunately with any loan the bank are going to need paperwork and are going to do checks on your credit history. You really need to talk to MABS.
my suggestions....

1. cut up credit card and transfer balance to a 0% credit card (and make sure you cut up the new cards you get!)
2. go and talk to you local credit union and get one loan to pay off all the other loans/overdrafts you may have. Maybe even borrow enough to pay off the credit card bill too.
3. agree an affordable repayment plan with the credit union and stick to it.
4. keep a diary of your spending and cut out whatever you dont need.

if you dont do this now you'll end up in a hole that will cause you serious problems when you go to look for a mortgage at some stage in the future. Credit Unions may not be the cheapest way to borrow money but they are fairly flexible

Canis Lupus

Agrees with all the advice above. Get rid of your credit cards and give a serious look at your incoming and outgoing money.

See what you can cut out and what you can change to make cheaper.

MAKE A CONCERTED EFFORT.

Whatever you do stay away from a loan shark. Go ask a family member for some help, that's what they are there for amoung other things. They mightn't be able to get you completely out of the hole but anything helps.

audge

Originally Posted by audge
is there people that will give it to me without all the hassle of paperwork sh*t and all that.


Huh? I didn't say that?

scargill

sorry audge - post corrected

The Corinthian

head-wrecked. wrote:

what do ye think of loan sharks?

If I were a loan shark I wouldn’t give you the money.

i have an overdraft that i can`t clear, credit card maxed, bla, bla. need help.

Why can’t you clear it?

a thousand would straighten out my overdraft and i would be 100% back on track.

If you can’t clear your existing debts, I’d doubt it greatly. You’d simply be sorted until your next financial emergency - and €1,000 further in debt.

i think being constantly €1,000 or there abouts overdraft a month, that`s why the bank refused me.

Oddly, the “I can’t pay off my existing debits, but another loan will solve everything” line didn’t work.

is there people that will give it to me without all the hassle of paperwork sh*t and all that.

Family. Perhaps a very close friend. Someone very, very gullible. That’s about it.

any ideas/advice on where to turn will be greatly appreciated.

Get the money from your family; you don’t have a lot of choice in this regard. Then sit down with a pen and paper (or a spreadsheet) and work out how you can pay off your existing debts.

You strike me as someone who is spending more than he can afford, so you will probably want to cut back on some things (give up going out for a month, for example). Cut off all your unnecessary direct debits and standing orders (to charities, for example). Change your spending habits (pack a lunch instead of eating out or use the office phone rather than your mobile, for example). Sell some of your stuff.

Then you’ll be back on track.

kensutz

What about putting some extra hours in work as overtime and getting money that way? Surely you can sacrifice some of your spare time to do an extra few hours a week to build your finances up. With myself travelling week in week out to England I try to do 6-8 hours a week which is nothing and that pays for the majority of my flights.

slidder

I worked for a loan shark collecting money every week...DONT GO NEAR THEM!!!!... What we had to do was bad. And i only done it because i was in the same boat as you and i was known as some one not to be messed around with.Try friends or relatives.