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Consolidation Loans

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  • 19-10-2007 12:51pm
    #1
    appollo_10
    Registered Users Posts: 17 ✭


    Hi all,
    I dont know if i am in the right place to post or could someone direct me to the right place but i am looking for some infomation on "Consolidation of Loans"
    Before i go on could i be pointed in the right posting forum please.
    :)
    Appollo_10


Comments

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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    This would be the right forum :)

    But it would help if you gave people some idea of your situation - i.e. amounts owed, credit card/loans etc, good or bad credit record.

    You can't expect people to make something out of nothing


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    #3
    appollo_10
    Registered Users Posts: 17 ✭appollo_10


    Ok.... thanks.
    Situ at the moment is

    Home loan = 77,300 with 17 yrs left
    Personal Loan = 18,000 with 9 yrs left
    Car Loan = 7,300 with 2 yr 2 mts left
    Credit card 1 = 4500
    Credit card 2 = 1000

    I have never missed a repayment so record is good.

    What else do you need, any advise would be great.
    Appollo


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    #4
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    OK, when you're speaking of such large amounts you probably need to deal with a professional financial advisor to be honest - that's the best advice people can give you. Any information you get off the internet should be treated with such large grains of salt that it should be considered unsuitable for consumption ;)


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    #5
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    appollo_10 wrote: »
    Ok.... thanks.
    Situ at the moment is

    Home loan = 77,300 with 17 yrs left
    Personal Loan = 18,000 with 9 yrs left
    Car Loan = 7,300 with 2 yr 2 mts left
    Credit card 1 = 4500
    Credit card 2 = 1000

    I have never missed a repayment so record is good.

    What else do you need, any advise would be great.
    Appollo


    An equity release of 30k maybe the way forward. It would certainly reduce the interest you pay during the year and leave you with more disposable income every month. In a few years time you could then maybe look at paying lump sums to your mortgage using the money saved.


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