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Consolidation Loans

  • 13-02-2019 9:03pm
    #1
    Kiskallies
    Registered Users, Registered Users 2 Posts: 2 ✭


    Hi,

    I currently have a large loan 30k from AIB that along with some smaller loans (in total a further 5k) I have been struggling to pay. I am in arrears in my payments and they have passed the debt to a collection agency.

    Approx 15 months ago I started working with a solicitor, who was supposed to negotiate with the bank. It has become apparent in recent months, that he has done nothing and left me further in trouble. I rang a MABS type helpline tonight. I have been in touch with MABS also, but they are the ones who sent me to that solicitor 15 months ago. The lady I spoke to tonight, told me to try a debt consolidation loan, before I tried a PIA or a DSA. I asked about the likelihood of getting one, with such a bad credit rating now. She said that it was possible but that they were not allowed to advise on who. She did say, banks were worth trying.

    My question is, do any banks out there give consolidation loans to those with bad credit history. My mortgage payment history is perfect. It is my unsecured loans that are the issue. Will I need to go to a more dodgy high interest lender? I don't even know where to start looking. I have no savings in my credit union, so that isn't an option.

    Thanks in advance :)


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