WHY I'M BORROWING

I currently ow £15,000.00 which has gathered up over the last 8 years on credit cards. I use to swap my credit cards alot to get interest free offers but with the climate changing and going into a reccession that is no longer possible. I am currently paying about £400.00 per month which is just paying the interest only. With taking this loan out it will allow to have one easy payment per month and have a piece of mind that the figure is going down as at the minute is not due to only paying high interest. The debt has been gathered from my younger years i.e changing cars (I now have a company car), car insurance, holidays etc.

WHY I'M A SAFE PAIR OF HANDS

I have been at my job 8 years now in which i am very settled and going to be here along time in the future. I am a full qualified domestic and industrial electrician by trade but with being at the company along time i have been promoted to a project engineer. I think my credit rating should be good as i have no ccj's, never been bankrupt and not missed any payments from previous credit cards or loans which i have had in the passed. I dont really have any outgoings apart from £120.00 rent, £45.00 gym membership and £35.00 phonebill. I have a new compnay car which i also have the fuel included. I have been approved for a loan with my bank but i feel the interest rate is very high at 15.9% so i am hoping to be offered a better rate on here.

THE STATE OF MY FINANCES

My salary is £30,000.00 per annum basic and i get about an additional £6,000.00 with overtime. I am hoping to pay this off quicker than the 5 years requested as i do have a good salary and not hardly any outgoings other than my credit cards that will be consolidated with the loan. I currenyl owe the following in which i would like to consolidate:-

Virgin Money Credit Card £8,000.00.
I pay about £200.00 per month which covers the interest only.

Mint Credit Card £4,000.00
I pay off about £100.00 per month which covers the interest only.

Egg Credit Card £3,000.00.
I pay about £100.00 per month which covers the interest only.


Many Thanks!

Questions about this listing

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