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If I have a bad credit rating and I desperately need a consolidation loan what are my chances of getting one?

i’m already paying more thаn £550 towards loan аnd credit card payments. I сουld consolidate аll οf thеm wіth a loan аnd οnlу pay £300 a mth. Bυt mу credit іѕ bаd. Wουld аnу company give mе a loan?

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3 Responses to “If I have a bad credit rating and I desperately need a consolidation loan what are my chances of getting one?”

  1. Ozark Ike says:

    Are you a home owner??? If not you chances are very slim at best. If you own a home you might be able to do a refinance if your LTV is 85% or less and you have enough equity. Your friendly Mortgage Broker

  2. obelix says:

    At an enormous interest, if you have a solid job and some kind of equity, they might. Otherwise, meet Mr Micawber.

  3. ricks says:

    it is possible, but without knowing specifics its hard to say. Many times it depends on what is on your credit, not always just the score. I have seen people with very good scores get turned down b/c they have too much debt.

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