Loan or credit card?!! DESPERATE

[secular37]

Please please Mumsnetters. I am desperate for advice. If this post is not suitable on here then please direct me to another thread to post this question on.

After 6 long years, my CCJ has been removed (got a student over draft when I was 18 at Uni and paid it off but was put on ccj due to failure to many attempts of them trying to get me to pay it back).

It is good timing, as I am moving home soon. But I need some advice. Due to my Children's needs, it looks like flooring is going to be our biggest expensive. Roughly 3,000 for sound proofing and flooring.

I don't know if it's worth getting a loan or a credit card (never had a credit card as I hate getting into debt) to buy the flooring. My credit score is 928. Please tell me what I should do. Please!!!!!!!!!!! As I need to live out ASAP and will not do this until I've got my flooring sorted.

Do you have the means to pay either a loan or credit card back monthly?

I don't know about credit scores, however if you can get a credit card with 0% interest on purchases, that'll be your best bet as you won't be paying any interest. A loan will always have interest.

If you can’t wait and at least save some of the cost of flooring (we have had bare floorboards for ages while we save, finally have enough for carpet now, but I am not adversed to putting some things on 0%) and you can get an interest free credit card then that is the way to go. Failing that some flooring companies do interest free credit agreements, I know Tapi do.

Is it social housing?

My salary is 33,000 a year. But my boys have medical needs which I pay for privately.

Go on moneysupermarket and look at the credit cards- 0%.
They do a soft search and it gives you an indication of what you’ll be accepted for.

I don't know if it's worth doing the whole flooring (living room, stairs and bedrooms) or just do it but by bit?

Are you in the UK? Unsure why medical expenses would need to be private if so?

A 0% credit card would be best, find one with the longest period of 0% interest, divide that by £3k and pay it off before you start needing to pay interest on it.

What can you afford to pay back each month?

For example if you get an 18 month 0% credit card, and can pay £166 a month for that time you’ll pay no interest, if you want to buy more flooring & can’t pay it off in the timescale you could pay one off then do the next bit once the first is paid.

No way would your credit score be that high if a CCJ has just been removed. Regardless, research "soft search" credit options to see what you would likely be accepted for, and go from there. Or if you've been offered social housing, ask your housing officer for advice

Yes in UK certain medical expenses are not provided on the NHS- hence why we are paying things privately. Ok I'll take a look. I hate taking out loans/putting things in credit as I'll get and anxiety and want to pay off everything ASAP.

That's what Experian said shrug. I'm not sure what it's called- maybe it's not a CCJ. But I was black listed for 6 years and it has just come off this month....

Maybe cause the NHS is a shit show? I’ve been waiting a week to hear back about an “urgent” scan and waited 9 months to hear back with a date for surgery on my eye. Will not be doing the same for my children I will just go private.

Are you in the UK? Unsure why medical expenses would need to be private if so?

Thousands of parents pay for private medical issues for their children. Counselling being a big one. The NHS is vastly overstretched. I'm surprised anyone living in the UK isn't aware of that.

@QuillBill Yes that too. One of my son's had a severe mental episode (won't state what). It would be a 2 year waiting list to see a psychologist and even then, he would be offered 3 months sessions and then his discharged. I'm not going to do that. Hence we pay weekly sessions for him to see a clinical psychologist.

Just did a soft search on money supermarket. I've been approved for a 12- 20 month 0% interest free cards but I don't know which one to get.

Would it be getter to get a store credit card as opposed to an actual credit card?

Stores often have interest free credit options for carpet which might be worth considering.

Yes, there are loads of parents in your position. People have to pay for things themselves or they don't get them. I can't understand why anyone would think we have an NHS that is fully functioning.

Take it it's a rented place then

No mortgage?

I am not sure if I have a CCJ or not (been a complete ostrich with stress and circumstances 😳) but my credit rating is healthy, over 900.

I'm going to deal with that shortly.

OP perhaps try money saving expert forum and thoroughly investigate options available to you. Best of luck.

0% cc

Hello everyone
We've had a number of reports from people concerned about this thread so, as we usually do in these circs, we're putting our heads round the door with some important reminders.

Right now we can't see any evidence to indicate that the OP isn't above board – if we did, we'd remove the thread straight away. But the truth is that, sadly, we at MNHQ can't know with 100% certainty that any poster is genuine, no matter who they are or how long they have been here. As frustrating as it is, we're not able to vouch for anyone here.

So we always ask users to remember that not everyone on the internet is who they say they are – and remind folk not to give more to another poster, either financially (in cash or gifts) or emotionally (in time or care and support) than they'd be prepared to lose if things went wrong. Though, we strongly advise against parting with any cash or giving away your personal details, and if you receive a PM which makes you uneasy - report it to us and we’ll take a look.

We've compiled some useful links posted by Mumsnetters into a financial issues webguide, so that people experiencing difficulties can find all the relevant information in one place.

Sorry to hijack your thread briefly there, OP – we really hope you get it all sorted soon.

Sorry not a ccj 🤦🏽‍♀️. My account was put in default due to missing my overdraft payments at 18 (uni days). The default was on my credit for the past 6 years and has just been removed this month.

O% interest is the cheapest way to borrow money obviously! I haven't seen any stores offering 0% interest on flooring, but I could be wrong.

If the store is offering 0% interest use theur credit facilities as it'll be a monthly direct debit yiu don't need to think about.

A 0% credit card would also be good as you can set up a direct debit payment too, but it might not give you enough credit or the length of time you need to pay it off.

Avoid a loan.

I'm shocked that my thread has been reported. This is genuine! I'm moving into my first ever home and I am stressed. I have never owed a credit card (due to the default being on my record so hard to get approvals) and I have anxiety getting into debt so have always stayed clear of loans/store credits. I'm only considering getting credit as we need flooring- mostly due to my Children's needs.