Loan Advice

marks77

I've a 6k loan with welcome finance that I applied for as I had some credit problems in the past. After viewing my experian credit report it shows that the problems that I thought I had have dropped off so I had no need to apply with a complany like welcome finance.
I'm paying £256 a month :eek: and 29% APR, and obviously don't want to be paying that much.

My credit report is squeaky clean with no defaults, ccjs, no missed payments on any of my 4 credit accounts, on elctoral role etc etc..

I don't want to get caught up in credit search after credit search but in the current economic climate what are the chances of me going to someone like e-sure, ASDA, Tesco or Sainsbury's and getting a loan to cover the Welcome Loan. Do these loan companies like the idea of "debt consolodating" in this climate??

I've paid £256 for months now and other quotes show I could be paying £100 so surely I would have thought they think I can make those payments.

Also, I've read somewhere, to increase chances of getting their lowest Typical APR it is best to take the loan out wth PPI then cancel it? Is that advisable and do they withdraw the offer of the loan at that Typical APR if you cancel PPI cover?

Thanks in advance
:rolleyes: