If you've had a credit card for a number of years or have had other debts like a personal or car loan then you'll have a credit history. If you've stayed up to date with repayments, then your credit history is probably fine, but it’s important to ensure your history is accurate and uncover any potential issues before applying for a loan.
Having a complete list of your debts can really speed up your application. It will give you an idea of how much you would like to borrow. Remember to list things such as credit cards and other personal loans.
Highlighting the things that you spend money on can go a long way to working out your loan repayment schedule. Consider things like rent, bills, groceries, gym membership, insurance premiums, car expenses, and anything else that gives a really good indication of what your cost of living is.
Payslips are perfect for detailing your employment history and how much you get paid. If you're self-employed or work freelance, then you can get the same information from your most recent tax return.
A debt consolidation loan is all about making things easier to manage, taking a number of debts and streamlining them into one loan. Click here to learn what else you should consider before taking out a debt consolidation loan.