Debt Consolidatin help

[pauloz]

Hi,

New to this, but i'm desperate for help. I'm 23, I owe 7,000.00 (600.00 in arrears but making the payments) to the Credit Union, 2 credit cards oweing 3,000.00. I have a good full time job earning 1500.00 a month. Maybe it doesnt seem a lot but I cannot sustain it. I pay 200.00 rent a month, 85 for insurance on my car, phone bill is 60.00, and all other bills. My car is about to fall apart.
I am at my witts end. I've applied to the AIB for a loan of 17,000.00 this would get me a decent car, clear all debt (So I would just have one affordable payment) and have a some savings set aside. They denied it today. Is there anyone out there that can help me? Its a constant struggle, robbing peter to pay paul and still in the same situation all the time. Cant afford to save, can just about pay the bills. I've been in the same situation for a year or so. Any advice would help? Should i just come to clean to the bank and say what its for? I'm thinking of going into the bank manager and fighting my case... thanks in advance

 

[Bronte]

You want to borrow 17K and part of this is going to be your savings? How much do you want to spend on a car. What did you tell the bank the loan was for?

I recommend you do the money makeover thread and then we can try and help you. Looks like you need to learn some money budgeting skills.

You're only 23, debts are not insurmountable, so no need to be desparate but you need to get on track and learn some money management tips.