Consolidation loan?

Ive been with my bank for five yrs but the money i owe i`d like to consolidate I have had for three years and been very careful with payments. Will my bank will accept me for a consolidation loan of 10k?

I would be grateful for your view on this

Consolidation loan?

I am concerned that you are going down the same road that led to these debts in the first place. After three years of emerging from the last crisis, it looks like the %26quot;pressure%26quot; is on again. I suggest that you do two things. 1) Reduce your outgoings 2) Increase your income.

On the first one, consolidating that loan with Barclays would cost you 鎷?96.33 per month without insurance at a typical APR of 6.8%. Check with your Bank to see if they can match that. Then choose the cheaper Provider.

Presumably, there is a reason why you are a Part-timer? Weigh up the costs of going full-time, or if not possible, of working a second job from home.

This two-pronged approach should get you off your credit treadmill. There are no victims, only volunteers!

Disclaimer:

The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please call 0800 085 3250 or go to http://www.unbiased.co.uk.

Consolidation loan?

While banks to take into account the fact that your a customer, they also look at the credit history and your fico score. If these are good, you shouldn't have a problem. Best to ask them though, since different banks have different criteria.

Consolidation loan?

Your ability to be accepted might depend on what you are consolidating...credit cards? car loan(s)? medical bills?

I have been in banking over a decade. Just so you know, the most difficult loan to get is a consolidation loan. They are high-risk for a bank.

If you are not approved, one way to get what you need is to have collateral, suchas a car, truck, boat, etc.....

Talk to your banker about whether you will be required to have collateral or not. Also, it is great you have been with your bank for five years. They will definitely consider that while reviewing your application for a loan!!!!!

I am including a link about the down side of consolidation loans and the fact you can in turn get into further debt.

I wish you good luck!

Consolidation loan?

They might give you the loan, but consolidating doesn't help you get out of debt.

Consolidation loan?

Your situation are typical for a lot of people,so,be patient and calm down,check the resource i found useful.http://loan.goodhelper.info/loan-refinan...

Consolidation loan?

Just a word of advice....I had a consolidation loan %26amp; ended up in more debt! You get the loan, pay everything off with the loan,think you are OK %26amp; then get into more debt. It is a downward spiral. I thought consolidation loans were the best until I got one %26amp; found out the hard way! Since then I've read so many times that the worst thing you can do is consolidate. I wish I'd known before I did it because I'd never have taken one out. In the end I had to remortgage to get out of the more debt the consolidation loan landed me with! It is a nightmare.

You need to do what you think is best for you, everyone's circumstances are different...but just to warn you to please be careful.Good luck.