Consolidating a secured loan

Machine_2

Hi guys,

wondering if anyone could help? I'm trying to help sort out my girlfriend's finances, she has a secured loan for roughly 10,000, a credit card for 4,950 (over its credit limit by £500) and overdraft

We've applied for a tesco secured loan but we're declined and have spoken to Freedom Finance but they can't help due to the fact my girlfriend is renting her house out and renting elsewhere.

Does anybody have any ideas of companies that would be able to help considering her living arrangements?

For the record I work in collections for a major credit card and loan company so am aware of processes and consequences of bad debt, just wanna get this sorted asap.

Thanks in advance

WASHER

If you work for loan company, why do you want to turn unsecured debt into secured debt, that is usually not recommended and consolidation rarely works. You could post your girlfriends SOA and we could take a look.

WASHER

Machine_2

it's not that i want to but the biggest part of her debt is secured already.

I'll try to post her SOA tomorrow

WASHER

I understand most of the debt is secured already, but please think carefully about securing the rest of the debt.

Won't your girlfriend have to pay a redemption fee for repaying the existing loan early? Therefore you are actually increasing her debts.

My advice to you is get a low % credit card and do a balance transfer with the existing credit card debt.

Why do you want to move the debt anyway?