Loans

Eddtr1

Hi all,

I have lots of little payments going out and i want to wipe out alot of debt with one monthly payment - i have just qualified with a MSc and I have a full time job earning 21511.

However my credit score is rubbish - 558 on experien.

Is there any point me looking into trying to get a loan, how about a graduate loan would that work. Any advice is appreciated!!!

Thanks.

Rafter

You should try your own bank for a graduate loan.

Given you have just qualified and given your credit score, it is unlikely that anyone else will touch you for now.

Depending on the rate though, you can then try to refinance the loan in 6 months or so once you have more employment history and hopefully a higher score.

Good luck.

R

CLAPTON

it only makes sense to refinance your existing debts if you can get a loan with a lower APR;
otherwisw just keep paying the existing debts until they are gone and then start saving.

Eddtr1

Well i am going to go to barclays today and ask about a graduate loan - i realise there bound to tell me to go away

I was thinking about getting a loan in my mums name and then paying that back - i can well afford it but no one will touch me - i could pay of my debts and then in 6 months time when my credit score is up i could move the loan into my name what ya think?

CLAPTON

how much do you owe?
what are the APRs on each loan?
how much do pay back each month?
how much can you afford to pay back each month?