bigbadbert
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How much do you want or need?
Loans are the easy answer. If your resourceful, you can get money through other means.
I was £25,000 in debt and I managed to get out of it after 3-years. It was three years as I paid the monthly amount without thinking month after month, then after three years I got p*ssed off with it all and applied myself and decided I wanted out of debt ASAP.
My answer was that although I was in £25,000 debt I found a house that was totally wrecked on a housing estate and managed to trace the owner. I approached him and he accepted my offer that was £10,000 below what it surveyed at. Right away I could re-mortgage to free up capital and pay off some debts.
I kept the house for 9-months - doing it up bit by bit and re-morgaging at every step to free up cash to do the work.
End result was that I sold the house for a profit, cleared my feet, set up my own business and bought a new car as well as being able to go on holiday.
I'm not a builder but I am willing to try anything and learn. It took a lot of hard work and was almost every weekend and evening for 9-months but with friends and my families help I managed to do it.
This worked for me. It might not for you but sit and think how you can make money yourself and what your good at. Debt doesn't have to be a life sentance. You can find light at the end of the tunnel. I'm 26 now and I did this over two years ago.
BUT if you must get a loan, you will pay for it with high interest and a long term so its more affordable to you. Like most people above say, its a hellish way to get money but you will get it.
Have you tried things like crisis loans? Social grants? etc? These are either interest free or grants you don't have to pay back!
I don't know your circumstances or if you'd qualify, I could really do with talking to you to help you more but try this link below for a starter for ten....
http://www.dwp.gov.uk/lifeevent/benefits/crisis_loans.asp
I'm not a professional, this isn't my line of business so get some professional advice from a financial advisor, citizens advice or even the job centre.
most of all, SMILE!!! You don't have to be where you are. You can turn things around if your determined enough and can work hard at it. |
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helen_birchall_uk
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Try not to get a loan but if u were then try lasteverloan.com these ppl r willing 2 give me a loan and my credits terrible and im not a home owner... but remember loans only sort out theshort term |
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Madam Rosmerta
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A lot of people, but please don't do it - the APR is skyhigh and your best just saving. Sorry to be boring, but it's the truth. |
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Pookie
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DON'T. You will be paying an insane % rate. I had a friend who was paying £100 a month for 5 years on a £1000 loan!!!!!!Try to do it any other way than that. |
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Raine
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you can get an unsecured cash loan of up to £500.00 from PROVIDENT. their interest rates are sky high but you will find that with any unsecured loan company with having bad debts. |
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Danger Mouse
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DON'T GET A LOAN!!!!!!!!!!!!
They will take your soul!!!!!!!!!!!!
Sounds like they already HAVE yours! |
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jacksmum
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i would advise you not to get a loan but work some overtime and start saving your money and budgeting |
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taketwo
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you pay high rates on your borrowings. speak to the brokers, they will arrange it for you. |
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angel
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There are some really nasty companies out there who will try to rip you off big time. Do not go to provident, as they charge up to 80% interest rate for poor credit etc.
Go to www.moneysupermarket.co.uk and put your details in, a list of providers will come up. you could try one or more of those?
Could you not borrow the money of a parent and pay them back rather than a high interest rate?
Good luck in finding a loan. x |
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tellyuk27
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you could try a company called city financial. |
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?
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Sorry, I don't know the answer to your question, but I would just like to agree with those who have advised you not to do it. I worked for a bank for twenty-five years and then did a couple of weeks' temping for a well-known loans company which lends to people with a poor credit rating. I couldn't believe the difference in rates and terms and conditions. The reason such companies will lend to people with a poor credit rating is that their interest rates and charges are sky high. If you default on a payment or get into any sort of trouble you will pay a very high price. Please try to find another option. |
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stokegal
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The only place that I can think of is Welcome Finance, but their APR is extortionate (I borrowed £2000 and paid back £3708, £103/month), they do lend money to anybody though (regardless of credit history) but only go there if you are really really desperate. They do charge a set up fee of £75, but they can incorporate that amount into your loan repayments so there is no money to pay up front. I have used them and they are a good for rebuilding your credit, as long as you make payments each month and they are also quick in processing your application. |
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on thin ice
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Virtually every one says don't and I agree but no one has yet suggested you consider joining a 'credit union'. Ask your employer and or citizens advice centre to explain it to you but basically you first save and then you can borrow with the loan based on your now proven ability to pay. Many employers have credit union savings and loan schemes and I suppose you could say its a bit like a savers/ borrowers co-operative.The interest rates are reasonable and it might suit your circumstances |
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MARTIN D
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You have bad credit, how can it be a rip off if you have to pay a fee upfront to get an unsecured loan? You have already had problems hence your bad credit rating so you expect acompany to lend you more money with nothing to secureit against and not pay an admin fee???????
Most companies wont touch you and those that will are going to charge a fee..WWW.SUREFIREFINANCE.CO.UK are brilliant for bad credit loans but may charge an admin fee, I used them for a secured loan which doesnt involve a fee.
But good luck anyway. |
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alatoruk
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didnt i answer this the other day.....something about the same point twice.
if you have a poor credit rating then no-one is going to give you unsecured lending, similarly....
for unsecured lending you need a good credit rating.
technically the same point but so IMPORTANT to the outcome of your question it's worth mentioning twice. |
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braveheart321
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Don't even go there, you would just get yourself into deeper trouble, interest rates are higher and you would be paying back forever |
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Mike
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provident loan of £500 costs you £800 over a year......see what we're saying now |
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kezz
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provedent do loans for people with credit probs so do greenwoods.www.provedent.co.uk |
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