Loan to repay cards that don’t mean you increase total credit

LinzJG

I’ve got myself into credit card debt I’m now struggling to repay as interest adding on means what I can pay each month is having little to no effect.

I’m not eligible for any balance transfers or loans as they all see this as me trying to increase total credit, whereas all I want the loan company to understand is I would use a loan, at lower interest rate, to clear, and most importantly, close credit card accounts so that overall total credit available to me was same and to keep making similar repayments but at lower interest rates to reduce debt faster.

is it possible to e.g. have the loan company control the repayment and closure of the credit card accounts?

I have an MBNA loan currently and a credit card with them…would they agree to change credit card balance to a loan at lower rate and they close the credit card account?

Grumpelstiltskin

Look at it from the loan companies point of view.

How to they know you will do what you say and close the credit cards and not open any more?

They don't.

Read through this thread.
In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions. — MoneySavingExpert Forum

Complete a honest SOA and then we can see your full financial situation and we can advise you on the best way forward.

fatbelly

They are actually being kind to you. You are struggling and borrowing more is not the way forward.

If you do a soa we can advise better.

ManyWays

You can ask MBNA but that loan wouldnt be cheap. 
Also a loan interest rate may be lower but the monthly repayments can be higher than credit card minimums unless the loan is pretty low interest