Debt consolidation loan help, bad credit score

[slizzzzy 1]

Hi, im 21 and live in the UK and i have around £10,000 of debt. I am trying to get a consolidation loan for all this debt as it varies over a few accounts but my credit score is 514/710 (trans union) i cant seem to find anywhere that will accept me and was just wondering if anyone had any advice or could point me in the right direction of where to try. Edit: i earn around 1.4k after taxes Thanks

[Karmajuro 1]

Hey! If you have high-interest debt and are struggling to make your monthly payments, consolidating your debt with a lower interest rate loan can help you save money on interest and simplify your finances by only having one monthly payment to make. However, it's important to carefully consider the terms and fees of the new loan to make sure it's a good deal for you. Also, you should read simplefastloans.com reviews. I have used these guys several times and every time I have been satisfied with the quality of service they provided me.

[KevinK 0]

I'm sorry to hear about your debt struggles. Don't forget to shop around and compare offers from different lenders before making a decision. This can help you find the best possible loan terms and rates.

[Stephenn 0]

Either look for a bank that will give money, or call the bank that has a debt and try to negotiate to reduce the monthly payment. Or pay as much as you can

[caliente69 0]

It's tough to find lenders willing to take on someone with a less-than-perfect credit score, but there are some options available to you. One suggestion I have is to consider working with a Mortgage Broker in Solihull. They may be able to help you find a consolidation loan that fits your needs and budget, even with your lower credit score. It's worth giving them a call and discussing your situation with them. Another option is to try and improve your credit score before applying for a consolidation loan. This can be done by paying off outstanding debts, making sure you're up-to-date on all payments, and avoiding opening new credit accounts.

Edited May 11, 2023 by caliente69