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refused once...will i be refused by others?
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the problem with applying for loans is that they will take into account all your previous credit as well, not as a replacement.
so you will need to be able to afford the repayments on the new loan, on top of all existing loans, even if you are planning on using it to pay them off.
they will also look at your total available credit along with your salary, and usually only accept if your total credit will be below about 50% of your salary.
so if your on 20k and already have 10k available credit, getting any more, even if its to replace your existing ones, wont be possible0
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