If I got a bank loan of £8000 to consolidate debt from RBS what would repayments etc be?

Assuming you earn £1100 per month and you have current debt of £8000 nobody will loan you another £8000. Banks have really tightened up their lending criteria over the past few years.

Here are some figures for you.

You easrn £1100 per month which equals £13,200 per year. Banks will only loan 50% of your salary so if you have perfect credit history the most you could hope for is £6600 if you have no current debt.

You already have £8000 of debt which os over 50% already so they are going to loan you a further £8000 which would mean you will potentially have £16,000 of debt. I know you say you want to consolidate your existing debt but they have no guarantee that you will do this with the money.

Also consolidating debt is not a good option as 85% of people who do this end up in even further debt.

There is nothing stopping you paying off credit cards etc witht he,loan and then spending on them again and racking up further debt.

What you need to do is cut down on your current spending and increase your income.

get a 2nd job perhaps then look at what you are spending every month. Check that you are with the cheapest energy suppliers, get rid of expensive mobile phone contracts and switch to pay as you go. Get rid of Sky tv and use freeview, shop in cheaper supermarkets such as Aldi and Lidl, take packed lunches to work, do not buy expensive coffees from costa, starbucks etc.

There are so many things you can do to reduce your outgoings and you will enjoy it. With all the money you save you can throw it at your debts and become debt free and the feeling you get when you are will be the best feeling you will ever have.

Good luck on your debt free future

I suppose that it would depend on how much the unsecured loan would be for. But don't do it unless you close out those accounts, otherwise you WILL slowly run those cards up again and have a loan payment at the same time. I believe credit cards debts is one of the leading causes of bankruptcy.

You are very unlikely to get one for £8K on that salary and for that reason. If you do, the interest rates are likely to be pretty steep.

Best bet is talk to the bank and see what terms, if any, they are prepared to offer.