www.larry-the-loan-broker.co.uk – Personal Loan Broker Service

If you have been refused credit and loans you will not help yourself if you continue to make further loan applications. This is because each time a potential lender searches your credit report, they often leave a record that you have been accepted or declined for that application.

Should you be declined, it is a warning or alarm bell for the next lender to see that application/s have been made but have not been successful.

You should take advice as to where you could obtain finance.

More Single Parents Apply for Loans reports Netmums Survey

  • The growing and respected website Netmums has reported that more and more single parent families are turning to payday lenders and other means of credit and loans to support them whilst struggling with rising household costs and bills.

Netmums surveyed around 2000 members this month and questioned mainly what impact the current economic climate was having on these families.  Some of the findings seem quite harsh but evidence really how tough it is out there for normal everyday people who are just trying to get by.

  • The survey said that 20% of mothers are going without meals to make sure the children can eat.
  • One in twenty are taking out payday loans, 1% are turning to loan sharks to keep things going.
  • 25% are living on credit cards.
  • 50% of families are selling or pawning items.
  • Two thirds have less disposable income this year when compared to last due to reduced household income.
  • 16% are being treated for stress issues directly relating to personal financial problems.

Over half of all people surveyed stated that if they were to suffer another change in circumstance such as further reduced income from benefit changes or increasing child care costs, they will fall into a position of hardship. A number felt suicidal due to due to the pressures and stress of debt problems and the lack of ability to see things getting any better.

Whilst borrowing from friends and family is sometimes but not always possible, it is not a long-term solution to the problems faced.  What is most worrying and shocking is that people who would normally be living modest and frugal lives but getting by are now living on the edge financially.

  • Netmums did get a response to the survey from the Department of Work and Pensions who said;

“Our welfare reforms will have a dynamic impact on some of the poorest families and will lift over one million people out of poverty. We continue to support low-income families and put £6.5 billion a year into financial support for lone parents, but we know that debt remains a real driver of poverty.

“This is why we need credit unions to be supported and strengthened to ensure that illegal loan sharks can’t plague the homes of vulnerable people and offer a real alternative to doorstep and payday lenders. We are working on the best ways to help credit unions expand and modernise so that more families can have access to affordable credit.”

As a debt help and advice service we speak with many people every day in the same position.

We must stress that it is human nature to continue to search for more credit as a way out of debt, however, we must also stress that when an individual is given advice that another loan is not the best option, they should take this advice and consider it.  Most consumers think that if they put the phone down and call another company they will eventually get the further credit or loan.

The reason why people are falling into the arms of these high rate lenders is because advice once sort has not been taken or more importantly acted upon if refused a loan.

The problem of not having a disposable income leads to further financial management issues that require the individual to make arrears repayment arrangements with utility or credit providers.

  • The consumer will usually increase the “loan shark” supply base as they tend not always to act on the best advice!
  • Most people do take the advice given and those that do tend to see some sort of organisation in the situation even though it is not one they wish to be in.

For further debt advice UK regarding personal debt issues and the problems and stress associated with being in the clutches of doorstep and payday lenders, call our debt helpline free from a land line today in absolute confidence using 0800 018 6868.

Lines are open 24hrs / 7 days.

Loans to Clear Debts in 2010

  • If you are searching for loans to clear debts in 2010, you may find that lenders are not so keen to dish out the funds they have been in the past.

Most loan companies are receiving many calls every day from people who want more credit but do not actually qualify for the credit.  These people are sometimes upset when they gt the refusal for the loan as they do not and are not told why.

When you are refused loans to clear debts you have to ask yourself if it has been a blessing in disguise!

  • Do you really need any more credit?
  • Is another loan the best debt solution or option?
  • Will the next loan sort all your financial problems out?
  • Can you manage repayments of a new loan if you lose your job or fall ill?

More credit is usually the last thing a person needs when they are trying to clear personal debts.  Loans to clear debt are hard to find as people with bad debt usually have a bad credit rating also.  You will see adverts for loans and credit but you should also be wary as these adverts are not always what they seem!

If  you need help and advice regarding loans to clear personal debts, please call Lewis Alexander free using 0800 018 6868, the personal debt helpline is open 24 hours / 7 days and your call is free from a land line and is also confidential.

Emergency money help and advice

When we are struck with sudden costs such as health or home related, we tend to struggle to find the money to pay for the “emergency” that has arose.

Even if living costs are being met when the odd change of circumstance occurs, it can have devastating effects financially for the long term if you have to borrow emergency money at high rates.

People should save an emergency fund or have a way of accessing emergency money through insurance or even friends or family.  In a world that is ever more technological and fast moving, accidents and break downs of all types of equipment are more likely.  Yes, even the breakdown of our own bodies.

If your financial situation does not allow for you to think about a budget for a rainy day fund, or emergency cash fund, then consider how you can increase your earnings to enable you to save that few extra (£) pounds per week or month. When you have the small fund you will feel as though you have achieved something, test us to see if we are wrong!

The important message within this blog post is “Get your rainy day fund in order, or start one today!”

If you are struggling with personal debt and think that you would benefit from a confidential conversation with a trained debt advisor, call our personal debt helpline today using  0800 018 6868

Bad credit loans

Bad Credit Loans are being advertised almost everywhere they can be. The rates of interest associated with these loans are very high. The rates are worked out based on the loan being classed as a “short term loan” and the vulnerable consumer is often caught out as this is usually the last loan to be added to a personal portfolio of multiple debt agreements.

When people search for bad credit loans they often find that they are asked to pay a fee for an online search. Do not pay these companies £50 or a similar amount to do something you can do yourself.

Loans can be taken to clear debts and consolidate debts ( put into one) but usually they just all add up to one big debt problem.  The fact that you end up borrowing money at higher rates every time you manage to get approved means that gradually your average interest rate is increasing.

Call our personal debt helpline today in confidence and find ways to clear debts without loans!