What to Do

rapierman

Situation is:

Got a loan currently eith HSBC, due to finish Jan next year. :j

Wanted to get another loan to pay off credit cards, and once the existing HSBC loan is finished start paying of more of the new loan, easier to control Loans than Credit cards.

Anyway, decided to check my credit score and it has come as very poor - due to outstanding debt close to limit.

Can anybody advise what i can do to get a loan to pay off credit cards or would my "Credit Scoring" go against me?

kaisersoze_2

If you have alot of debt close to its limit that will count against you and hence reduce your credit score, you could maybe apply for 1 loan see what happens but i wouldnt hold out alot of hope.

If you have paid off the loan with HSBC on time with no problems they maybe willing to lend you more money at the same monthly repayment.

Rafter

Try to get your limit utilization down before January too.

Get yourself a budget - stick to it - pay more off cards closest to their limits. Make sure you pay minimum payments by direct debit so you get no late payments too.

Have you claimed any charges in the last six years above the new £12 charging level too? A few letters and phone calls could get you a significant refund to pay down your debts.

Good luck

R.

rapierman

Thanks for the advice.

In terms of the charges, no i haven't claimed anything, but i did have a conversation about charges with natwest - which they were charging me for late payments, which i wasn't, as i paid for 2 months worth before Chrsitmas. And they have been charging me ever since.


Anyway, when i approciated them on this i was told, you went over your limit (by £10 max. may i add) and the charges for late payment & over fee limit is fair. OK i wasn't disputing the overfee limit (my fault ) but the late charges as i have never been late, their response was...... they all even themselves out, so charges are fair. Quiet rude i think.

I would like the info on claimin back these charges though?

kaisersoze_2

rapierman wrote: »

I would like the info on claimin back these charges though?

http://www.moneysavingexpert.com/reclaim/