Loan Application is Lodged

After many months of procrastination I have finally completed my personal loan appliaction. I’m still not confident that it will be approved, despite the fact I have a very secure job and more than sufficient salary to meet the repayments. The loan provider wanted 3 months of credit card statements for each card. With my filing system that took a while to find.

Anyways I dropped the application in the post on my way home tonight, I told my nagger that to celebrate the end of months of procrastination I was going to get myself a bottle of expensive champagne on my credit card, she just laughed. I did too, I don’t enjoy the stuff enough to spend more than $20 on a bottle.

I haven’t come up with a Plan B in case it doesnt get approved, I have a vague idea of getting myself a wad of low interest credit cards and spreading the debt amongst them for a while, occassionaly I see advertised a 0% interest balance transfer offer but when you read the fine print the deals aren’t as good as they originally appear.

I’ve had a couple of friends offer to pay out my credit cards while I seek other finance, but I’ve taken the attitude that I got myself into this mess so I can get myself out of it. And the other issue is that misrepresenting yourself on a loan application is an act of fraud and I don’t need that stress.

On the bright side I decided to count all my loose change that had been sitting in three overflowing money boxes. I was surprised when it came to just under $700. Normally I do something fun with my loose change, but this time it will be going off the credit cards, I’ll be taking it to the bank on my next day off.

While it might seem like a nice bonus, the reality is that it’s going to cover my winter power bill and the phone bill and that’s just about it.

So I should hear something in the next couple of weeks regarding my consolidation loan application. Stay tuned and find out in the next exciting episode if I’m going to be a credit card victim for the rest of my life.

I’m getting an extra $55 a fortnight.

Not enough to set the world on fire but hopefully will make the loan look more affordable in the lenders eyes.

Just need to knuckle down and fill out the 400 page application now!

Pay Slip Due Tomorrow

My last excuse for not applying for a personal loan should be gone tomorrow, next weeks pay slip showing my increased annual salary and lower tax rate should be available on the work intranet in the morning.

So I plan to be preparing my loan application over the weekend.

I friend of mine made a killing on the stock market this week, she’s offered to loan me the money to hide my debt while I get a loan. I declined the offer mainly because I got myself into this credit card mess and I plan on getting myself out of it. The other thing that held me back is that hiding the debt could be seen as fraud when I make the personal loan application so I wasn’t too excited about that idea either.

My other job for the weekend is to find some affordable health insurance, I’m going to be a lot more poorer once I get this loan and the health insurance organised but it’s all for the greater good…….. right ?