help/advise on getting a loan

patsyg_3

i have 2 credit cards both at the top of their limits totalling £6,000 but I'm paying extorionate interest on them because i lifted cash out with them.

I was looking to get a personal loan to consolidate the 2 cards.

Few factors that may affect:

1. hubby has had 2 defaults, both clear but the aren't cleared over 12 months.

2. my salary £12,500 hubbys £24,000

3. we live in rented accommodation

4. i have twice went over my limit on credit card (not sure how much this affects it)

does anyone have any advise on where would give me a loan on my own (or jointly with hubby taking into account his debt) - he has no credit cards - just a car loan and has never defaulted on it and only has 1 more payment to make on it.

All help would be gratefully appreciated :beer:

Bestthingsinlifearefree

HI Patsyg,

Combined you and your husband have a decent income.

What you need to be looking at is where your money is going and if you can save money to throw at your debts.

Consolidation is no good if you don't reduce your spending / change your habits that got you into debt in the first place. You will simply run up new debts.

I would go to the getting out of debt forum and post all your outgoings / income and see what advice can be given to help you save money to pay of your debts.

You maybe able to quickly reduce your credit card debt without taking on consolidation loans. Consolidation is not a cure but a symptom of the problem ie spending more than you earn.

Sorry if thats not the advice you wanted to hear but I give it in your best interest.