Personal loan question

[Anonymous]

I currently have approx $3,492 in debt spread across 6 credit cards and I am paying $160-$200 per month towards lowering the balances.

My question is, If I were to go to my bank and talk to a loan officer about getting a loan to pay off the remaining balances

and could guarantee at least $180 month to repay the loan what would be my chances of getting approved?

I have one baddie across all 3 bureaus which is a charge off for a returned check of $808 ( 1.7 yrs old)

and my unenhanced Fico 8 scores are in my sig.

[RobertEG]

If the bank requests a listing of current debt as part of their application process, then they likely do a debt to income analysis to determine eligibility.

The current minimum payments on the existing debt would then be a factor.

If the sum of those payments plus the new payment on the loan are still within their debt to income criteria, then you would likely qualify.

However, if the existing debt resuits in not meeting the debt to income ratio, it could be a factor.

To assure that your loan will not increase your current debt, you may be able to work out an arrangement where they send the loan amount directly to your existing creditors, thus assuring that the loan will be used to reduce existing debt.