25k consolidatory loan needed - no chance?

yorkshire-lad

To th OP, I am just repeating what others have said but you will not get a loan.
Why not give one of debt charities a call and seek their advice.

The_mangler wrote: »

Im in exactly the same boat OP, except Im a full time carer with a disabled husband and no extra income. I am just about managing to pay off interest on cards (again, the reasons for amassing such debts are credible but not important to this debate). I have asked my own bank for a 25k consolidation loan, I even told them they could send the money direct to the credit card companies but no can do. Im now reduced to looking at bankruptcy so nobody gets their money back - can nobody see how this makes financial sense??

Speak to CCCS.

MrsMerlot_2

Hi, Can I just add that I had a loan from Black Horse a few years and they made the cheque payable to my credit card company.

So they made sure I was paying off the debt.

Surely other loan companies do the same?

Tixy

MrsMerlot wrote: »

Hi, Can I just add that I had a loan from Black Horse a few years and they made the cheque payable to my credit card company.

So they made sure I was paying off the debt.

Surely other loan companies do the same?

Haven't seen any recent instances of this, though it used to happen a bit.

Plus even if the card is paid off this loan provider cannot close down your credit card account - so its entirely possible that the borrower would just go out and spend the money on the card again. Still resulting in a possibility for double the debt.