Help catch 22 Situation !!!!

257378

Can anyone help with this problem i have........ I am try to transfer some of my credit card debt to a loan but cant due to the lack of available credit i have...
Does anyone know of a loan company that does the payment of the cards themselves.
All i want to do is move the debt from one pot to another... NOT take on any more lending ....
I earn over £40,000 and am a home owner .... i am only in the position due to divorce.
I cant transfer any on to the mortgage as i have a large morgage..

Can anyone please advise

Many thanks

257378

acg3442

I am in the same situation, we are looking for a loan of £12000 to clear credit cards and overdrafts and buy a new car but have been refused. We have no idea how to proceed now and are running out of ideas.

zppp

I would suggest that first of all you look at your Equifax/Experian credit files to find out if there is a reason for the declines.

There are few to no companies that directly pay off other debts to other creditors as part of a loan, in the style of credit card transfers. If you are trying to consolidate debt, consolidation is not always the best option. If you are truggling to keep up with your repayments, or the interest is crippling, you need to come to a repayment plan with your creditors.

I strongly suggest you have a look at the following websites, and post a SOA on the Debt Free Wannabee Board
www.nationaldebtline.co.uk www.citizensadvice.org.uk www.cccs.co.uk

david39

From the point of view of the new lender, they will have to weigh up the risk of you clearing the credit card debt with their money and then the possibility of you running up another large debt on the credit cards yet again thereby compounding your problems.

If you are struggling to repay the credit card debt that you already have and the loan company can see that from your credit history (repeated repayments at minimum rate or missed payments) then they are unlikely to risk their money with you.

257378

thanks ZZZP
I know the reason its due to the amount i have on cards against my income and available credit .... i have an experian account and keep a check on it ... the whole situation is due to the cost of my divorce ... which is still ongoing !!!
I have a good credit rating ... does repayment plan not affect that ... ?