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Advice needed for a £20,000 debt consolidation loan

crman · 2010-06-04 14:03:40

Any help gratefully received. My wife and I have £19,700 between us on credit cards and overdrafts that we have built up on our wedding and buying and renovating our house. The APR's on the cards are now going through the roof so we wanted to consolidate it all onto one easy £20,000 loan over 6 years. We have never missed…

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Malky Posts: 694 Forumite

7 June 2010 at 5:20PM

Don't forget that if you take out a £20K loan, your debts then become at least £25K. Do you really want to take on a further £5K or more of debt?

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Advice needed for a £20,000 debt consolidation loan

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