Lowest interest loan for poor credit?

walterwhite1121

Hi all

Looking to borrow about 2000-2500 over a period of about 3 years. This is going to be used to pay a couple of credit cards to stop interest piling up on them and in order to have one monthly psyment (the loan)

What is the best/lowest interest loan? For poor credit and no guarantor

Thanks

Gaz83

Tried your own bank?

forgotmyname

Quite possibly the same rate your paying on your credit cards. Get on the debt free boards and pay off as much as you can on the card with the highest interest first.

Foxy-Stoat_3

If you had an excellent credit file then you may get offered a loan at 6%.

You will probably only get offered a loan at 25% if at all.

Any chance you can cut up your credit cards and over pay them until you zero the balances?

CLAPTON

walterwhite1121 wrote: »

Hi all

Looking to borrow about 2000-2500 over a period of about 3 years. This is going to be used to pay a couple of credit cards to stop interest piling up on them and in order to have one monthly psyment (the loan)

What is the best/lowest interest loan? For poor credit and no guarantor

Thanks

impossible to say as
you haven't said what your credit files say
nor have you said what your salary is

iolanthe07

Unfortunately those with a poor credit history are always going to finds it difficult to get a loan at a reasonable rate, for obvious reasons. Why would a lender take the risk?

DCFC79

walterwhite1121 wrote: »

Hi all

Looking to borrow about 2000-2500 over a period of about 3 years. This is going to be used to pay a couple of credit cards to stop interest piling up on them and in order to have one monthly psyment (the loan)

What is the best/lowest interest loan? For poor credit and no guarantor

Thanks

Can't see it happening to be honest, have you tried your own bank or talk to pay plan or step change.

20aday

If you can tackle the card with the highest APR first and make more repayments to that account and then pay the minimum plus a £1(or any amount you can reasonably afford) to the card with the lower APR of the two.

Failing that speak to your own bank (but be prepared to find out the interest rate charged will be higher than those with an excellent credit file) or as DCFC says speak to one of the Debt Charities.