Refused loan - what to do now ?

Kev64

I'm trying to consolidate my credit card debt of just short of £16,000 with a loan. I applied to the Alliance & Leicester last week and have today received a refusal letter :embarasse

I'm worried that the refusal will affect my credit score and further applications to other companies will just worsen the situation. I got my credit score details last year and they looked fine - and I've not missed any payments on anything.

What's worrying me more is that they never even offered me a loan at a higher rate - it was a blanket NO.

Not sure what to do now.... :think:

CLAPTON

what do you earn?

they will probably see you have debts of 16k and want to add another 16k making 32k worth of debts.

you may be better to try for low LOB CC or 0% BT CC s and reduce the APRS on a piecemeal basis.

Kev64

25k pa. I told them in the application is was for debt consolidation too. Whilst I owe 16k, I was asking to borrow 13k - the other 3k is on a low LOB M&S card. Should I keep trying with other companies or am I just digging a bigger hole for myself ?