This loan seems like a 'good' solution!! Is it still consilidation?

rubydoiwannabee

Thanks to everyone for their advice. DH has been successful in getting a virgin SBT card, so we are hoping to transfer part of the massive OD to this card with it's 15 month 0%, that will help us feel much better about the situation with FD and it will allow them to review the OD in Feb 09 and knock quite a chunk off the limit. So although we still owe loads... I am feeling like the item that was worrying me the most we have a plan for. It means we will have to work our a***s off to find the extra needed for the monthly payment but hopefully all will be well.

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rubydoiwannabee

SerenaGoode wrote: »

I had a letter like that from Black Horse, offering 7.9%. After I'd gone through the application (and done a credit search, meaning that it would be harder to look for options in the short term) they offered me 14.9%.

Not saying FD will do that, but it certainly wouldn't be unprecedented, especially if your situation looks a bit dodgy from the bank's point of view. But if you're not desperate for a solution, worth a try - if you get 7.9% it may well be worth doing, so long as you don't then run up more debt on the cards.

Good luck either way.

thanks for your post, it is really helpful to know that this is the process they take, I really hadn't appreciated that as a possibility.

I am so grateful to be able to run our dilemma's past everyone on this forum before making a decision, it is invaluable it really is.

We have a new plan, see below. We are now just working on how we can find the extra monthly payment, but overtime and extra hours are a real possibility as is saving less weekly for essential and emergency items.

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