Getting a loan on a low income

howhighthemoon

I would appreciate any advice.

Owing to a disabling condition, I took an ill health early retirement from my job a few years ago. I get a pension, incapacity benefit, and DLA and my wife earns enough to cover the mortgage. The problem is that I have about 20k remaining on credit cards, and the charges are taking most of the money I receive, so this is not really going down. I am looking, therefore, for a consolidation loan which I would want over a period of 5 years.

The problem is - where do I go to get a loan at a decent rate? I've no CCJ, defaults etc., but not being employed seems to be a major stopper and my total income (including my wifes) is slightly lower than the amount I want to borrow.

I've only made one application, but been rejected immediately. Obviously I don't want to apply all over the place as this will look bad on my record.

Suggestions welcome!

Thanks

jonesMUFCforever

You may well find it difficult to get a consolidation loan from a mainline lender at a decent rate.
This does not stop you applying for a credit card to transfer balances to.I would possibly start at the bank where the most of your income goes to.
Ask them to amend their records to show you as retired as opposed to not working as this will improve your chances in the long term.