loan,banking and credit
*Loan,banking and credit>>>credit debt

Have got a good credit history as i have never defaulted or been late with a payment, but i have huge debts...


BUT because there are 5 creditors, i'm having trouble consolidating 拢20,000. i'm currently living at home so can not secure the loan. my bank are unable to help me as i have a large loan with them (the repayments are low so can manage that one) my other bills cost me 拢600 approx a month to repay, just need a company to take on the 拢20,000. sainsburys (who i have a loan with) refused to top up my loan to get rid of the debt 2-3 months ago.

Am also waiting to find out if the Citizens Advice Bureau can help but their debt specialist has not been in contact yet, just need a back up plan.

My dad is prepared to be a guarantor for me, will this improve my chances of getting a loan?

Only UK to answer please, obviously American companies are of no use. Thanks.

I'm not sure why you are wanting to 'consolidate' your 'loans'? you have a good credit score because you have debt - not because you are a good payer! I'm not sure I would advise you to get an unsecured loan of 拢20k if your loans are currently spread over different lenders. If you are merely paying off minimum amounts on your credit cards and this is the cause of your desire to get an unsecured loan be careful. There are ways of moving credit card balances to lower %age cards where you can then start making much larger payments each month - i.e. more than the minimum required. You should in any case be paying off the most expensive loan first. Say you have borrowed 拢1000 and are paying 29% apr get this paid off as quickly as possible - put all your spare cash into paying it off - do not wait for the statements and monthly demands. You may be able to get a loan via zopa.com - but again I would advise you to be careful.
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