need some advice

tom1970

try to keep this brief: i currently owe £18k on CCs and have 8 payments of a 15k loan to pay (8 x £390 a month). i would like to borrow £20k on an unsecured loan over 6 or 7 years to clear the lot as i am struggling to pay off cards. u have a good credit history never missed any pymts. my take home is £1500 a month andi pay £500 of that to mortgage, have i any chance of borrowing this amount? who best to try? reason i am asking is that i dont want to go looking and then have a decline on my record. i need loan badly as i can no longer support cards.
would just like to add would it be better if i applied for loan as joint application with my partner? any previous loans were always in my name only, i have finished paying off a £7k loan in Jan 08 over 4 years with A&L. i currently bank with A&L.
thanks for any advice, i know this is a bit scatty but just looking a few pointers before i apply for a loan in next few days.

tom1970

think i have found answers to my own questions on other threads, basically i am up the creek as according to other posts the banks will say i am over committed and wont touch me with a barge pole.i guess i will just have to go bankrupt as the interest alone on CCs is over £600 a month

bitza81

Hi Tom

Don't write yourself off just yet... I suggest you visit your local CAB who should provide you with options available to you such as an IVA/ debt management plan etc. Alternatively there are other organisations out there such as payplan and consumer counselling service.

Take a good look round the site too as there are lots of tips which may help.

Good luck

Helen

jonesMUFCforever

What has your main bank told you - have you asked?
£500 on a mortgage on a £1500 salary (net?) is only 30% or so and I would suggest that is just average.
Can we ask why you had such a big loan in the first place?

Your bank should be able to indicate whether they would lend to you without conducting a search (although an application would) on your credit file.