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Need some advice regarding a loan to pay off overdrafts please...
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pauletruth wrote: »not sure that was wise. will they now tag it as agreement to pay. which is bad on your credit history.
I fell foul with the Nationwide with exactly the same.
I recently applied for a £5000 loan to pay off £600 overdraft and £4400 Credit card, both with Nationwide.
It was declined, due to an entry on my credit file by ... yes, Nationwide ... who had kindly stated that I had an overdraft repayment agreement. My credit file was clean... or so I thought.0 -
Spoken to halifax and they can offer me a loan of £1000 to reduce the OD. this would leave me with around £600 per month as spare cash which is plenty. the reduction in OD fees alone would save £360 a year and then of course i would be also only £600 away from reducing the fees to £30 a month in total.
What do people think? I'm torn as to wether to take another loan as it is effectively more debt but could prove to be benificial0
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