Getting a loan to consolidate my debts

Billy-no-Money

Thirty quid a month for a £600 overdraft is madness - is this because Halifax charges a pound a day? Could ypu move this over to the credit card eg by spending on it instead of using cash? Needs discipline, and Do NOT withdraw cash on the cc! Having done that remove the overdraft facility....

MFWannabe

I would try applying for a new 0% card; one that allows Super balance transfers such as Virgin; that way you can transfer money into your bank account to pay off the overdraft. You shouldn't get refused as you have low debt compared to your income; as long as you've had no missed payments you should get accepted. The worst that can happen is that you get refused; so there's no harm in applying

hollow-point

So I have a good chance of been accepted for a 0% card. What if I get refused? Can I trnasfer my over draft onto it?

fatbelly

hollow-point wrote: »

So I have a good chance of been accepted for a 0% card. What if I get refused? Can I trnasfer my over draft onto it?

If you get refused, then you're back where you are now. See if you can work out what caused it, sort it out and then try again.

You can 'transfer your overdraft' (I guess it's more accurate to say that you're doing a transfer into your overdraft) by using a Super Balance Transfer card:

http://www.stoozing.com/sbt.php

Some of these have 0% offers. You're not on a huge salary so I wonder if the Post Office classic might be the place to start (though I admit I'm not a specialist in card deals)

Oh, and £14 cashback from Quidco or £18.18 from Topcashback if you successfully apply through them!

hollow-point

Right I see. I need a different card to a balance transfer card? I think the best thing is to transfer the balance and get rid of the charges fro
The overdraft and insurance. What do you guys reckon and what would be the best card for me?

fatbelly

If you can get a SBT card with a 2k limit, you can balance transfer into your overdraft and old credit card

hollow-point

I have a 5500 limit on this card so hopefully that will go in my favour

hollow-point

I have started a thread on the credit card part of the the forum to seewhich card would suite me best. I'm frightened I'm going to be rejected and it will be on my credit file forever then

ViolaLass

hollow-point wrote: »

I'm frightened I'm going to be rejected and it will be on my credit file forever then

It's not that big a deal. It would not be good to have, for example, 5 searches on your credit file in a month and all rejected but one is not going to hurt you, especially not after a few months.

Tixy

A rejection won't be on your file forever. In fact a rejection won't show on your file at all. All that will appear is a credit search, which will drop off after 2years. And after 6months nobody will pay any attention to the fact that you once had a credit search.

Only way to know if you will be accepted is to apply for one.