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Loan vs Debt

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Comments

  • JReacher1
    JReacher1 Posts: 4,663 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    Can you get a loan for £5k on such a low interest rate? I thought loan providers like to offer the really low interest rates on loans over £7k.

    Consolidating loans is a good idea if you can guarantee that you won't build up either your credit cards or overdraft again as if you do then you'll be in a worse situation than you are now
  • You may wish to wait and secure your fixed loan first. Paying two loans successfully (on time) is better than one for that reason. Just so long as you're on time and not about to miss a payment. Good luck and I wish you guys the very best! :)

    P.S. The only loans we should ever take is to purchase assets. Any other may cripple us long term.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The only loans we should ever take is to purchase assets. Any other may cripple us long term.

    Reported for home page spam. Good effort though.
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