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Debt consolidation


manson3404
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No it shouldn't do. After all, it just another loan. However remember that it will be secured on your house and you have to be very disciplined not to use your cards again etc.

 

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Spotnot v MBNA and their nasty solicitors (on behalf of my friend)

 

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Jusr realised that my post was a bit preachy!! Apologies. I took out a consolidation loan in 2005 and paid it off in 2006 when I remortgaged and I had no problems getting a mortgage. So a debt consolidation loan didn't affect my credit rating so it shouldn't affect yours.

 

Spot

Spotnot v MBNA and their nasty solicitors (on behalf of my friend)

 

If I have helped in any way, click my scales.

 

Remember, we were all newbies once!!

 

When you win, donate!!!

 

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Hi thankyou for your reply

It wasnt a consolidation loan, A company call Chase and Saunders took care of my over due accounts and Negotiated the interest. But my credit is poor and i cant understand why. my debt are now paid off, and i never missed a payment to Chase and Saunders.

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If you entered into an IVA (an Individual Voluntary Arrangement), then, yes, it will affectyour credit rating. Have you checked your credit reports with the credit reference agencies?

Spotnot v MBNA and their nasty solicitors (on behalf of my friend)

 

If I have helped in any way, click my scales.

 

Remember, we were all newbies once!!

 

When you win, donate!!!

 

Link to post
Share on other sites

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