We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
🔔 You've got till Monday to apply to become an MSE Forum Ambassador
Reasons for taking loan.........
The_Aquapanther
Posts: 120 Forumite
in Loans
Is there a best reason to select when applying for a new loan?
I'm going to be consolidating my existing loans, but also need a bit extra to buy a new car. Would it be best for me to say I'm consolidating my loans so they don't think it will be thousands extra credit I'm looking for?
I'm going to be consolidating my existing loans, but also need a bit extra to buy a new car. Would it be best for me to say I'm consolidating my loans so they don't think it will be thousands extra credit I'm looking for?
0
Comments
-
In my experience, they don't actuually care! Might have changed now. Best bet is to be honest, and if you can only have one reason, put the one which will cost most.0
-
If you have a lot of credit outstanding and you want to consolidate, put the application down as "debt consolodation", its shows that your looking to pay everything off. It looks better than saying you have 15K outstanding that your struggling to pay and you want to borrow another 5K ( hypothetically!)0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.8K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.6K Spending & Discounts
- 241.6K Work, Benefits & Business
- 618.2K Mortgages, Homes & Bills
- 175.9K Life & Family
- 254.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards