Can you have more than one personal loan with the same company?

PoppyBee_2

Hi, sorry if this is a daft question!

About 3 years ago my husband and i got an AA loan to consolidate 2 small loans we had. We are now looking at consolidating other debts (credit cards and a few other bits) and again the AA have a reasonable APR (i'm wary of applying for a very low APR in case we get refused, we have never missed payments on anything but do have quite a lot of outgoings). Would it be pointless applying for another loan with them or is it 'normal' to have more than one loan with the same company?

Thanks!

Malky

Personally I think you should forget about consolidating again. You did it 3 years ago and chances are you could well do it again. Pop over to the DFW board, post an SOA and see where you can save money on your current outgoings in order to throw more money at your current debts.
Just my 2p worth ;-)

FATBALLZ

No reason why you can't although I guess it would make sense for them to extend your existing loan with them rather than run two concurrent loans at the same time. You can only ask! I do agree with the above poster though that if you're looking at consolidating for a second time you probably have other issues that need resolving more urgently.

fozmcfc

Done this twice, certainly in the case of Egg it was a top up loan I applied for

I had about a year left on a loan with Natwest and when on the phone 4 years ago now, they asked if I required another loan. I was stupid and said yes even though I used it for nothing of note, holiday and other debts (which I run up again anyway).

Secondly about 3 years ago, I had about 9 months of my Egg loan to pay off. I applied for a top up loan with them and was accepted.

Like in my case, you need to ask yourself why you are consolidating a loan again. I've finally learnt my lesson, consolidating is a dangerous thing, unless you actually change your way of living, so you don't need to consolidate again, because eventually your start getting told no.