credit cards to loan?

my_money64

Hi,
I need advice please, I have 6 cards all on interest, one finishes in 3/4 months. I'm paying the the minimum payment on some and more on others, weekly £90+ on a S/O working out to £380pm.
I'm thinking of taking out a loan of 5 years to pay them all off and shredded. Can someone advise me please.

YorkshireBoy

Consolidation is rarely a good idea.

That said...

Are you still spending on the cards?

Have you addressed the reasons for the debt existing in the first place?

What's the total debt?

What's the total available credit?

What's your income?

Have you missed any payments, or been given an arrangement to pay?

my_money64

Yes I've addressed the whole thing, having family abroad doesn't help. It all builds up when family gets together etc.
Having read all the posts I've decided not to take a loan out and just pay off what I can.
Thanks

bengalknights

As long as you close all the accounts after consolidating then try your own bank for loan amount they should be more favourable to lending

yangptangkipperbang

my_money64 wrote: »

Having read all the posts I've decided not to take a loan out and just pay off what I can.
Thanks

Have you done the most important thing ????? Shredded ALL the cards ????