Is it possible to transfer an overdraft onto an existing personal loan?

That really depends on who you have the loan with and how your credit looks. If you have decent credit and the loan is in good standing it should be no problem. You just have to go to the financial institution that has the loan and apply for an increase. Beware though, you may or may not get it. They often re-check your credit and sometime require you to borrow a certain amount, which may be more or less than you need. If it is less, obviously it isn’t worth it. If it is more than you can just pay the remainder back in as the next payment. Best of luck and remember this is not always an option so try to avoid situations where you need to do this.

 

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Where can I find a company that provides small loans to someone who has bad credit? ?

Your best option would probably be Provident Personal Credit {See Source} but others include, S & U PLC. Short Term Finance, Welcome Finance, Mutual Clothing and Supply, Greenwoods {Part of Provident} and Shop A Cheque to name a few.

The credit crunch may make it difficult and most companies as above may charge high rates of interest. They will charge a very high interest rate. They are best avoided as they only lead to more debt. You will end up paying several times what you borrowed- try and plan to save a little rather than use a loan, it will be a lot cheaper in the long run.Where possible avoid small loans from small companies at all costs as these will charge crazy interest rates (I got a leaflet the other day for loans of £500 at 79.9% APR.

The best bet for a short term cash injection is to try and get an agreed overdraft with your bank. Many of them offer between £100 and £250 interest free.

If you need money to pay off a large company or utility they tend to offer payment programmes so you pay off a small amount each week. After all it’s in their interest you stay a customer with them.I have to say I 'like' the typical interest rate on 'shtraffics' link:

'Typical rate 183.2% APR!' Now that really should dissuade anyone with any sense from borrowing money from them.you will not find a loan to get you out of debt with bad credit rating, you will be looking at loans with very high APR%, you will be paying back very high interest.
See you bank first – as they may be lower rates.These days, it is almost impossible to stay out of debt; outside pressures from family or work can sometimes be the cause. All is not lost if you have acquired a bad credit score; there are many online bad credit loan lenders to help. Money provided to a person experiencing financial hardship is no different to any other type of loan and can be used by the applicant in the same way. A poor credit history can be from something as simple as accidentally missing a loan or credit card repayment to something more serious which may or may not have been done on purpose. Arranging a loan this way could actually help your credit rating.

http://www.worldbestloans.com/

There are other reasons bad credit loans may be required such as for domestic emergencies, unforeseen circumstances or for consolidating previous debts. It is not uncommon for a person to arrange a loan just so they can repair their damaged credit history. They may not require the money for any specific situation.There are two options available, secured and unsecured loans, but with the secured option the amount of loan will be greater, up to 150,000 dollars and the repayment period can be extended to a period of twenty five years. However, if you take the unsecured loan route the maximum you will be able to lend will be dramatically reduced to 50,000 dollars and you will only have 10 years to pay it back.

 

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Bad credit rating…. ?

I’m not sure how long it will take. I imagine that after a few years of paying off your old debts, you can start clean again.

Making the minimum payment on that credit card you have is actually decreasing your credit. It’s a myth that carrying a balance increases your score.
60% of the population pay their credit cards in full each month.
40% carry a balance. Also, 40% of americans are in poverty level.
In conculsion, carrying a balance makes you poor, and banks rich.Sorry to say, but about 7 years until your credit records drop this stuff off the list. But your actual rating, assuming that you keep up with payments, will slowly improve during that time, and eventually lenders won’t (hopefully) care about what happened years ago.

 

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In the UK do you think the Credit Crunch will become as bad as the Wall Street Crash or Great Depression?

I remember life in the Thatcher days, and personally I was never well off under her rule. Things got better for me under John Major for some reason, but under Labour since 97 I've just got poorer and poorer. I think things will get far worse before they improve, and even then, it will take us about 25 years for future govt to pay back what the country now owes.

Sorry, but they haven't even reached for the brake in order to stop the financial disaster that's now happening. The govt hope that we will all go out and spend money that we can't afford to even borrow so that we spend our way out of 'trouble', and that got us all in this mess in the 1st place.Whatever happened in the US will certainly affect UK and the rest of the world in one way or another. The effects on our financial system are different because our banks are well regulated but their investment banks are not. Banks that have less exposures to the US sub prime market crisis maybe less affected by the credit credit unless they are required to help those destress banks and end up in trouble with the rest. This maybe the reason why HSBC and Barclays bank did not want to be bailed out by the government. It will get worse for another year or two, at least. Do you remember how tight things were in the ‘ 80s? Like that again, perhaps even more. We survived then, and we will again. I can’t compare today with the Great Depression – I wasn’t around then

 

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Debt Collection Agency Question?

If you are in the UK use the Consumer Credit Counselling Service, they were great and best of all free. Pay off the debt with the highest interest. Ask if you can make a smaller payment which they are really obliged to accept.The Consumer Credit Counselling Service which you can find the phone number online will list all your debts together and work out what is a reasonable amount of money for you to pay off over the year or two years whatever term you want so that you can live at a reasonable level. Don’t be afraid of them they are great, and it helps you to sleep at night and stop worrying. Their service is free, and they just get you to set up a Direct Debit so that they can deal with all your debts. They can also get the companies to stop charging interest.They would not necessarily find out, unless any of the debts are connected, or if any of the agencies happen to be associated with each other.

Most agencies will be happy to see you pay something off, even if it’s a really small amount. If you pay one off in full it will be noted on your credit report, debt collectors can’t share personal information with any others so unless the other debt collector search your credit report (not likely considering they have no real need to – and it cost them money), you’ll be ok. An agency can ask for a full payment but they can’t demand it, they have to take into account your financial situation and how much you can afford. If you say you can only afford £x each month they are generally obliged to accept it – refusing offers is bad news for them if the debt ever went to court. So pay off the one and set a payment plan for the rest, never make a payment plan for an amount you can’t afford, even if they harrass you to high heaben!
make use of the SE like google or yahoo to get some ideas first if you want to get the massive information,however if you do not want to spend so much time,here http://www.DebtFreetips.info/debt-free.htm is a direct and good resource for your questions.

well don’t worry there are many online sites which provide sound debt advice and more hassle free way to find help with your debt problems. In fact, making the process of finding sound debt advice as simple as possible.thanks.

I would agree with the advise given about going to your local CAB.

They have recently helped me out of a very sticky debt situation….. you can negotiate a settlement figure with these debt collecting agencies which is sometimes well below your original balance. The CAB managed to save me about £5000….Good luck and don’t let the SITUATION GET YOU DOWN.

 

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The credit crunch/recession: It’s not all bad news?

 

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