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personal loan for credit cards

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  • 13-11-2014 11:56pm
    #1
    whadafook
    Registered Users Posts: 85 ✭✭


    Hopefully I'm in the right place for some advice.

    I've had a tough couple of years financially. no income issues just a lot of expenses kept racking up. Anyway as a result I now have 13k of credit card debt on two cards with different lenders.

    I approached my own bank Ulster Bank with a view to refinancing the credit cards. On the branch manager's advice I included a request to include a request to refinance a personal car loan with them. This was to in his words make it a stronger application. total loan amount was to be 20k.

    my application was turned down as they will not refinance third party debt. I asked would they refinance their own card only. This was also declined as I had missed a payment 2 months ago. This was a complete error on my part. I've never missed any payment on credit card mortgage or loan. They did say that my application may be reconsidered in 6 months.

    Affordability isn't an issue as I have a large enough disposable income now

    I'm not a credit union member. Are there any other options I could consider?


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    #2
    phormium
    Registered Users Posts: 3,340 ✭✭✭phormium


    Open a credit union account and ask about their lending policy. Some accept loan applications outside normal criteria re timeframe and saving etc and it usually goes to the Board for decision. It's worth a chance if you have good income.


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