Expensive short-term credit is damaging the nation. Between us, we owe a total of £56.4 billion in credit card debt, and a staggering 14 million of us are using costly unauthorised overdrafts.
Did you know we develop our adult money habits at the age of just seven?
Getting into debt can happen to anyone. Divorce. Redundancy. Illness. These are just some of the life events which can overwhelm us, leaving us unable to pay household bills and repay credit cards and loans.
Consolidation loans are available to GMB members who wish to combine existing debts into one loan with a manageable monthly repayment, which can dramatically reduce the amount of interest you’re paying to various lenders.
No one likes being rejected for a loan, but there are steps that you can take to deal with this setback. We reveal how to move forward after a loan rejection and how becoming a wiser borrower can improve your chances of being successful. First, we need to understand why personal loan applications are rejected.