juggeling

flybynight

ok, i got a loan to cover student credit cards overdraft 3etc ( i then riped up credit cards etc as i wasnt living on em i was paying em off as fast as i could) and i know that you all advocate not geting a loan to consoilidate, however it seems to ayhve worked for me, as i got a lower rate of interest on the loan, and havent rebuilt the debt . however becoz i was a student wiv quite a lot of debts, i was given quite a poor loan rate, ( still lower than the cards etc) i have since done 7-8 mnths of paying loan off, having no credit cards, no overdraft etc. is it worth shopping around to try and move the loan and get a better interest rate to get debt free faster ( i dont wanna increase the loan, just move it)
cheers

RVK2

Definitely worth looking in to...good luck!!

tigerlily

Its always worth shopping around, just be wary of any early re-payment charges on your current loan. All the best.

flybynight

but wil i not knacker my credit reference thingy by applying if turned down and would i be better waiting? i have realy not got the hang of this debtbusting lark

CLAPTON

the first thing to do is to find out how much you would have to pay to close the debt early...it may simply not be worthwhile ..you can do this by phoning them and asking but also say you want it in writing
you can then work out what the maximum interest rate of a new loan that makes in worthwhile to switch.
I wont have thought one refusal will do any harm to your credit rating... a refusal doesnot show as such, merely that there has been a loan check

flybynight

cool thanks for ur help