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poor credit rating consolidated loan

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  • 14-05-2006 3:09pm
    #1
    behy
    Closed Accounts Posts: 17 ✭


    Hi all,

    Just wondering if anyone knows of any lending agency who will give a consolidated loan to someone with a poor credit rating, at the moment monthy repayments on current loans are 1700 euro, i know if i could consolidate some of this debt into one monthy repayment i would be able to manage it much better, and improve my credit rating, any ideas please.


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    #2
    boa-constrictor
    Closed Accounts Posts: 109 ✭✭boa-constrictor


    Gem and Start provide mortgages for high risk borrowers. Any good mortgage broker would be able to organise a mortgage for you through them. If you dont know a broker PM me and I'll send you his details. He lectured me in college (Mortgage Practice).


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    #3
    byte
    Moderators, Regional North West Moderators Posts: 19,119 Mod ✭✭✭✭byte
    byte


    The OP isn't looking for a mortgage though, just a loan?


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    #4
    fade2black
    Closed Accounts Posts: 6,937 ✭✭✭fade2black


    Most of the companies who would provide such a service generally only do so to home owners.


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    #5
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Try talking to the company that you currently owe the most money to especially if it's a bank as they'll often help you with a consolidation loan as it increased their chances of getting paid and ups their profits.

    They'll only usuall consider this if you've little to no arrears on any existing financial arrangements you have with them though.

    Make an appointment to see your account manager in person, lay everything out on the table and see what they offer. They're usually quite willing to listen to a rational and level headed plan to get out of trouble, just don't expect them to let you dig a deeper hole.


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    #6
    RainyDay
    Closed Accounts Posts: 6,925 ✭✭✭RainyDay


    behy wrote:
    Hi all,

    Just wondering if anyone knows of any lending agency who will give a consolidated loan to someone with a poor credit rating, at the moment monthy repayments on current loans are 1700 euro, i know if i could consolidate some of this debt into one monthy repayment i would be able to manage it much better, and improve my credit rating, any ideas please.

    How would having a single loan allow you to 'manage it much better'? Is it that big a deal to plan your repayments for the month ahead?


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