Hi
I have just finished off paying a 5 year carloan!! it was nearly €400 a month.
I have considerable credit card debt that I am very anxious to clear and each month I am paying the minimum,
Mbna I approx 7800 balance I pay ave E175 each month
mbna 2 approx 3500 balance I pay E100 of this each month
UB approx 5000 balance and min payment ave E150 each month
halifax loan ( from closed CC) 1350 balance and paying E93 each month.
I was paying all that and the carloan up to last month! as I was paying back so much I had very little disposable income.
I would now like to consolidate all of the debt to a loan for about 3 years to completely clear it. I do not use the credit cards and would close them completely after I had cleared them with loan.
I have been with my bank for many years and I know my credit rating would be fine to get a loan,but I am wondering what my chances are as it would be for paying off debt?
I don't want to get turned down for that reason, I hate telling porkies but would I be better of saying the loan would be for home improvements etc ? I know with the high credit card debt that could affect what loan they would give me!.. or would I be better off coming clean and saying is for paying off my rotten credit cards? could anyone in a similar position best advise me?
I have just finished off paying a 5 year carloan!! it was nearly €400 a month.
I have considerable credit card debt that I am very anxious to clear and each month I am paying the minimum,
Mbna I approx 7800 balance I pay ave E175 each month
mbna 2 approx 3500 balance I pay E100 of this each month
UB approx 5000 balance and min payment ave E150 each month
halifax loan ( from closed CC) 1350 balance and paying E93 each month.
I was paying all that and the carloan up to last month! as I was paying back so much I had very little disposable income.
I would now like to consolidate all of the debt to a loan for about 3 years to completely clear it. I do not use the credit cards and would close them completely after I had cleared them with loan.
I have been with my bank for many years and I know my credit rating would be fine to get a loan,but I am wondering what my chances are as it would be for paying off debt?
I don't want to get turned down for that reason, I hate telling porkies but would I be better of saying the loan would be for home improvements etc ? I know with the high credit card debt that could affect what loan they would give me!.. or would I be better off coming clean and saying is for paying off my rotten credit cards? could anyone in a similar position best advise me?