Equifax credit score 426 (bad?) best lenders around for 3k (secured/unsecured)???!!!

pizdec
pizdec Posts: 6 Forumite
edited 6 December 2012 at 11:23PM in Loans
Hi
New to this forum otherwise won't be in such messy situation now...
Im urgently looking for the any type of long term loan at about £3-4k, my credit score as at today 426 with Equifax (their rating is good), no delayed payments, CCJ etc. Only things (probably the major things) what i believe has effecton my credit rating is:
1. current overdraft maxed out -5k
2. credit card maxed out - 2.5k
3. my name isn't on electoral register more than 1 year now (still living at the same address, but apart from stupid credit checks can't see the point to stay in there)
4. couple little loans - max £700-800 both
5. 2 extra bank acc's, one of them overdrawn since opening (about 400) another one life but no activity on it.
Reasons to get the loan ASAP is to pay PDL (about 5 lenders at the end of this month) over 3k (inc interest)
I've got mortgaged property and a full time job (about 25k/year)
I had one credit file search (according to equifax) within last 6 months so don't want to be turned down with a first lender im applied with...
I would kindly appreciate for some tips and advise to get the best (if any at all?) deal for such poor credit score (have been declined few loans applications about 8 months ago)
P.S please just do not judge my circumstances, im there where i am...and you never know.. it could happen to anyone
QuickQuid 950, Wonga 400, Paydayexpress 300, Wagedayadvance - 150, PaydayUK -390 :suicide
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Comments

  • your earnings to income gearing is at the top end(i.e what you earn v what you owe),and are you saying not one electoral roll (if not then no chance)
    if avaliable a loan from even the best of lenders would be around 20%,i would suggest you try your own bank but you owe them 5k as it is
    so sadly i cant see who is going to lend to you,and a secured loan will take longer than you have to arrange,and is NOT advisable for that amount,or tbh for paying off debt
  • CLAPTON
    CLAPTON Posts: 41,865
    Combo Breaker First Post
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    best thing to do is

    -stop spending anything except true essentials (mortgage, council tax, utilities and 150 per month on housing keeping) and then throw everything else at the debts
    -pay as much as possible on the highest APR debts (presumably PDLs) and the minimum on everything else.
  • woodbine wrote: »
    are you saying not one electoral roll (if not then no chance)
    if avaliable a loan from even the best of lenders would be around 20%,i would suggest you try your own bank but you owe them 5k as it is

    Thanks for your reply Woodbine :)
    I was on electoral for 4 years until 2011, so the gap is 1 year now probably...
    Did try my bank last spring even with secured loan - can't get anything- after all the details input in to their system it's decline my application automatically :(

    CLAPTON thanks for reply :) im not spending anything since i maxed out all the accounts...nearly every month only in different reserve/late/over limit/returned direct debit FEES im paying between £100-250..
    Beginning of next month i won't be able to control it as it will be my 5 PDL second payment due dates...
    QuickQuid 950, Wonga 400, Paydayexpress 300, Wagedayadvance - 150, PaydayUK -390 :suicide
  • piemaeu
    piemaeu Posts: 28 Forumite
    You could speak to your bank, explain the problems and consolidate the 13k of debt into one payment? if you have three accounts, talk to them all see which one can help you the most!
  • Mara69
    Mara69 Posts: 1,409 Forumite
    Let's be brutally honest. The OP has no chance of borrowing any more money. If there were a check sheet for 'reasons to decline' the OP would have a check in every single box.

    The only answer is get advice from a free, independent debt advisory service like Step Change (formerly CCCS). You may want to consider a debt management plan (DMP) or IVA. Step Change will be able to advise.

    The Debt Free Wanabee board is the best place for you right now. People on this board offer free, impartial, helpful advice and most importantly, many have been where you are now.

    You are very, very deep in a hole, OP and even if you could borrow more (which I don't believe for a moment that you can) it is not the answer. Dealing with your debt is.
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    pizdec wrote: »
    P.S please just do not judge my circumstances, im there where i am...and you never know.. it could happen to anyone

    You state this like its a random phenomenon, it's not, it's only the irresponsible who end up in this state.:mad:
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • tonyh66
    tonyh66 Posts: 1,736
    First Anniversary Name Dropper First Post
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    OP you are so screwed, there is no chance you will get any loan from a reputable lender. Take the advice in post#6.
    Also phone your PDLs and tell them you need to freeze the interest and arrange a repayment plan.
    You definitely need to talk to CCCS (step change) TODAY.....
  • declanmcc
    declanmcc Posts: 412 Forumite
    Wutang wrote: »
    You state this like its a random phenomenon, it's not, it's only the irresponsible who end up in this state.:mad:

    "only the irresponsible" ?

    OP came on here for advice, and previous posters have given him as such. It annoys me to see how many MSEers are so quick to judge :mad:
  • pizdec
    pizdec Posts: 6 Forumite
    Mara69, Tonyh66 thanks for response and advises :)
    As for the loan, i'd like to get it if possible to avoid paying huge interest on pdl's at the end of the month. In february-march time im expecting (99% for sure) to get a lump sump around 5-6k so most of the loan i should be able to cover with that money.
    Of course the lenders wouldn't know about that...So in my currrent position, if i got it right, there is no lenders suitable for my circumstances?? What about companies like Norton finance, Nemo, Blemain finance ets..? I don't want to apply for more than one company reducing my low chances to get it close to nothing...

    p.s just spoke over the phone with my bank, not much help there :(
    QuickQuid 950, Wonga 400, Paydayexpress 300, Wagedayadvance - 150, PaydayUK -390 :suicide
  • DCFC79
    DCFC79 Posts: 40,598
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    edited 7 December 2012 at 9:57AM
    OP you mind if I ask how you got into this mess ?

    Was it too mujch spending ?

    Once all the bills are paid what do you have left to throw at the debts?
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