unsecured consolidation loan

uptohighdoh

Ok here goes....
I owe £22,500 on 4 credit cards. I am paying minimum payment to 3 and substantially more to the 4th andthe balance of this one is now £3000. I also have a personal loan with £17,000 outstanding and four years left to pay. I am servicing all of my debts and have never missed a payment. My question is would anyone lend me the. £22,500 in an unsecured loan so that I can pay one monthly payment and have an end date in sight? Is there a better route to go down? I earn £26,000 pa and have a mortgage with my husband. These debts were incurred prior to meeting him so I want to pay them off myself
Any help or advice gratefully received.......

Apples2

You already have £39k of unsecured loans!!

You would have to be earning well in excess of £70k a year to get a further loan.
Sorry but you have less than zero chance of another loan on your salary.

uptohighdoh

I don't want to borrow any additional money; consolidate it in a different way i.e. One payment. Is there anything else I can do if a loan is out of the question?

CLAPTON

presumably you are paying near to the minimum of all your debts except the one with the highest APR on which you are paying as much as possible?

you haven't said what the APRs are but you may be able to apply for CC with lower APRs and transfer the debts to these in a piece wise manner but with your level of debt and modest income it's fairly unlikely

TUS

uptohighdoh wrote: »

I don't want to borrow any additional money; consolidate it in a different way i.e. One payment. Is there anything else I can do if a loan is out of the question?

Lenders don't consider it in this way - to them it is additional debt as there is NO guarantee you would use the loan to consolidate (even if you really would consolidate and close the credit cards).

So when applying for consolidation loans, any credit check would be looking at your existing debt + the amount you are applying for and then considering if you could service that whole amount.

To be honest I am of the opinion that lenders should not offer the option of "consolidation" when you state the reason for borrowing on credit applications. It is misleading IMO.