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reputable company for unsecured loans
18-06-2011, 7:53 PM
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MoneySaving Newbie
Join Date: Jun 2011
Posts: 2
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reputable company for unsecured loans
hi i have about 15000 debt on credit cards, i dont own my house as i live in one of my father in laws properties, with the interest it seems like i will be paying them off forever, does anyone know of a reputable company that would give me a loan with a fair credit rating?
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18-06-2011, 8:38 PM
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Deliciously Dedicated Diehard MoneySaving Devotee 
Join Date: Jan 2009
Location: somewhere in the middle
Posts: 23,782
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How much do you earn? If its less than £50k+ then you'll be very unlikely to find anywhere who will give you a loan sufficent to pay off those debts - even with a very good credit rating. Any potential lender will consider the new loan as additional credit on top of what you owe on the cards (as you might blow the loan and not pay off your cards), and so they will assess whether you can afford to repay £30k of debt. If you are stuggling to repay £15k, I'd guess they'd judge you couldn't afford the repayments on £30k of debt.
A smile enriches those who receive without making poorer those who give or "It costs nowt to be nice"
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19-06-2011, 5:35 PM
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Fantastically Fervent MoneySaving Super Fan 
Join Date: Nov 2007
Location: chester
Posts: 5,991
Thanked 8,084 Times in 3,545 Posts
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borrow more debt to pay off debt.....not the best approach.... to cut down on your expenditure is the only magic bullet available.
The country is governed for the richest, for the corporations, the bankers, the land speculators, and for the exploiters.
The majority of mankind is ground down by industrial oppression in order that the small remnant may live in ease.
- Helen Keller
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