secured loan

slimster

Hi all thinking about taking out secured loan to clear debt,does anyone know best lender.
Also any advice appreciated.
Slim

Pixie5740

Are you wanting to secure a debt against your home to consolidate existing debts? If so then my advice is don't do it. Firstly debt consolidation doesn't work if you don't tackle the root cause of the debt. Secondly turning unsecured debt into secured debt is rarely advisable.

slimster

Thanks for your reply pixie,but am struggling to get unsecured loan due to credit rating system even though my rating is good,am working all hours to keep afloat but things keep piling up .

10pence

Agree with first reply, never wise to secure debt if possible.
Go get some debt and budgeting advice from a debt charity like the CAB or Money Advice Service. A fresh set of eyes might help find alternatives and even the reason for debts.

slimster

Thanks will check out debt advice.

DCFC79

Your credit rating could be 999 but it still won't get you a loan, I agree you don't need a secured loan but some free debt advice. Look at where your money is going and cut back, simple really.

slimster

Thanks DFC