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Helppppp!!!
davelester
Posts: 2 Newbie
in Loans
Hi there...
Can anybody point me in the right dirwction please???
I am 42, in a relatively well paid career. I have an excellent cresit score and have never ever even missed a payment. I have a loan which has 12 montjs to run which is at 16 %!!! I have 2 credit cards with high apr too!!!
About 6 months ago I applied for a main stream lender loan, but was refused presumably on outgoings. The thing is I want the loan to pay off the 2 cards and loan and thus radically reducey outgoings
Is there anyway around this catch 22 situation or have I got to keep chuxking money down the drain? My car will need replacing soon, too.
Any thoughts grearly appreciated.
Dave
Can anybody point me in the right dirwction please???
I am 42, in a relatively well paid career. I have an excellent cresit score and have never ever even missed a payment. I have a loan which has 12 montjs to run which is at 16 %!!! I have 2 credit cards with high apr too!!!
About 6 months ago I applied for a main stream lender loan, but was refused presumably on outgoings. The thing is I want the loan to pay off the 2 cards and loan and thus radically reducey outgoings
Is there anyway around this catch 22 situation or have I got to keep chuxking money down the drain? My car will need replacing soon, too.
Any thoughts grearly appreciated.
Dave
0
Comments
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davelester wrote: »Hi there...
Can anybody point me in the right dirwction please???
I am 42, in a relatively well paid career. I have an excellent cresit score and have never ever even missed a payment. I have a loan which has 12 montjs to run which is at 16 %!!! I have 2 credit cards with high apr too!!!
About 6 months ago I applied for a main stream lender loan, but was refused presumably on outgoings. The thing is I want the loan to pay off the 2 cards and loan and thus radically reducey outgoings
Is there anyway around this catch 22 situation or have I got to keep chuxking money down the drain? My car will need replacing soon, too.
Any thoughts grearly appreciated.
Dave
Whats the apr of the 2 cards and what is owed on them or what is the total amount owed inc the loan and cards ?
Whats your income ?0 -
Hi loan owes 3000 @ 15.9 %
Cards total 5000... 19.9 %0 -
davelester wrote: »The thing is I want the loan to pay off the 2 cards and loan and thus radically reducey outgoings......My car will need replacing soon, too.
Nobody can be certain that you will use the new loan to pay off your existing commitments. Even if you did, you might run-up the (now empty) CC with new debt - a new car, for example. In a short time, you might have twice the debt you have today.
I don't say you will, but it certainly is a possibility.0
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