Debt Consolidation Story

When they applied for a £30,000 loan, the application was declined due to their financial position and inability to afford repayments. We will never knowingly lend to a member if we believe they are not managing their finances or can’t afford it.

But instead of closing the door, our team explained the reasons and offered guidance on the steps needed to turn things around.

The member then took out a smaller loan with us, allowing them to clear their overdraft and begin reducing debt. 

Fast forward ten months, the member returned in a far stronger position. With overdrafts cleared, a consistent track record of positive account management, and a clear repayment plan.

We were able to approve a £30,000 consolidation loan. This allowed the member to clear multiple high-interest debts and replace them with one manageable credit union loan.

The impact has been significant! The member now saves almost £600 every month in interest payments alone, providing peace of mind and a realistic path to becoming debt-free.

“We’re not a bank – we try and listen to anyone who has a story and help if we can. In this case, the member was honest and committed to putting a plan in place to change their situation for the better,” - Nigel McGonigle.

If you’re struggling with multiple debts or high interest repayments, talk to us we’ll always try our best to HELP YOU.