please help - want to get rid of CC's

Chelsea1979

sfax wrote: »

No, apply now. Worst case scenario is a rejection and a recorded search which will become immaterial in 6 months

But will it affect the nationwide approval in principle?

Chelsea1979

CLAPTON wrote: »

Do you have existing debts of 16k, an income of 28K and are applying for a 10k loan?

Yes, I have 6.5k remaining on a loan, 2 cards totalling 9.5k. I want to get a loan, pay off the cards and cut up the cards.


I have this debt in my sole name as my OH is a temp and can't get credit in their own right

sfax

Chelsea1979 wrote: »

But will it affect the nationwide approval in principle?

They will have already credit checked you. They won't do it twice for a loan

Chelsea1979

sfax wrote: »

They will have already credit checked you. They won't do it twice for a loan

Really? What's the point in the 'approved in principle' then?


if that's the case I could apply for the sainsburys loan or similar and if the rate beats the nationwide, I could cancel the nationwide.

sfax

Chelsea1979 wrote: »

Really? What's the point in the 'approved in principle' then?

if that's the case I could apply for the sainsburys loan or similar and if the rate beats the nationwide, I could cancel the nationwide.

It's sometimes subject to other checks like additional ID, AML, checking the information you gave on your application wasn't falsified. It's not guaranteed but they will have already credit searched you IMO. If you're not sure, check your Experian report. The search will already be on there

fto

Please be very careful getting a loan to pay off the credit cards...
I`ve seen this fail many times,you just slip back in to the habit of using the cards again.

Chelsea1979

sfax wrote: »

It's sometimes subject to other checks like additional ID, AML, checking the information you gave on your application wasn't falsified. It's not guaranteed but they will have already credit searched you IMO. If you're not sure, check your Experian report. The search will already be on there

Thank you!

Chelsea1979

fto wrote: »

Please be very careful getting a loan to pay off the credit cards...
I`ve seen this fail many times,you just slip back in to the habit of using the cards again.

Thanks I know the risks, the cards will be cut up. My OH was a student for a long time and we had to accrue some debt...time to get rid now