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Consolidating loans/credit cards etc...

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  • 31-03-2008 11:22am
    #1
    xzanti
    Moderators, Entertainment Moderators Posts: 10,439 Mod ✭✭✭✭


    I'm thinking of consolidating my car loan and credit card debt and I'm wondering if anyone has any advice on doing this.. It wouldn't be a huge amount and my credit is fairly good, I just want to compact my outgoings into one monthly payment as is promised on all those finance ads.. Has anyone here done this and did it make things easier for you?? Cheers in advance..


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    This is one of the most common things for people to do. It cuts your outgoings and helps you along. Get all your statements of debt together and arrange to see the manager.

    Banks do not tend to take over debt from another bank so try your own bank 1st. If all else fails try swapping you CC to another provider, most do a 6-9months interest free on balance transfers and purchases.


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    #3
    xzanti
    Moderators, Entertainment Moderators Posts: 10,439 Mod ✭✭✭✭xzanti


    Thanks for that unclebill98 :)


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    #4
    kaiser sauze
    Registered Users Posts: 1,558 ✭✭✭kaiser sauze


    Don't forget the Credit Unions, if you have an account of good standing with any of them.


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    #5
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    xzanti wrote: »
    Thanks for that unclebill98 :)

    No worries, press the thanks button then ;)


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


    xzanti wrote: »
    I'm thinking of consolidating my car loan and credit card debt and I'm wondering if anyone has any advice on doing this.. It wouldn't be a huge amount and my credit is fairly good, I just want to compact my outgoings into one monthly payment as is promised on all those finance ads.. Has anyone here done this and did it make things easier for you?? Cheers in advance..

    Remember kids...... It's all about the repayment capacity! ;)

    I'd say that they'll give you the money on condition that you clear the credit card, meaning that the bank will make you do a draft to clear the cc balance first. Well done for nipping the problem in the bud.


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    #7
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    I did it recently with my bank. I just wanted to bring everything into one payment. The bank suggested a repayment schedule and closed all the outstanding debt down into one single account. No complaints from me, and everything was taken care of quickly.


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