PLEASE HELP!! I need an UNsecured Personal Loan - but have Bad Credit!!

2

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Even places like Yes will assess your affordability for a loan and work out what you can afford. Not even bad credit places like this would be likely to lend anymore than half your income as an absolute maximum. And if you already have other outstanding debts on cards or anything this will further diminish what they would be likely to lend.

    The APRs for these types of companies are bad - and if you miss a single payment the charges & interest very quickly spiral out of control. Personally I would steer clear of them even in an emergency.

    Surely a visit to a relative can be done for a lot less than £12k whereever they are in the world? Are there no relatives who could help you out financially with making your trip?
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • rolandi
    rolandi Posts: 6 Forumite
    Thanks ged1980, No, the loan is to cover a number of urgent things, but the trip is just the most urgent of them (although they are all pretty urgent!). I also need to buy a second-hand car for my work amongst other things.
  • dmg24
    dmg24 Posts: 33,925 Forumite
    Can you elaborate on what the £12,000 is to cover? Perhaps we could help you prioritise, as £12,000 seems a great deal for 'urgent things'.
    Gone ... or have I?
  • Spring_Time
    Spring_Time Posts: 125 Forumite
    Oh so its not just the trip for the sick relative?

    I'm sorry but I don't think you are going to get your 12k Loan. Have you tried the debt free wannabe board? You can post your info there and people will help you see where you can make savings and help to make sure you are getting all that you are entitled to.
  • geoffky
    geoffky Posts: 6,835 Forumite
    i would be able to run a marathon before you would get a 12k loan..both are not going to happen..
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • Apples2
    Apples2 Posts: 6,442 Forumite
    £12k to someone about to flee the Country leaving behind a handful of defaults, lot's of late payments and a few missed mortgage payments??

    £12k to someone with a low paid job with none spare??

    The lenders will be queuing up. You'll have to sell stuff, a loan is not forthcoming.
  • Saints2011
    Saints2011 Posts: 933 Forumite
    Apples2 wrote: »
    £12k to someone about to flee the Country leaving behind a handful of defaults, lot's of late payments and a few missed mortgage payments??

    £12k to someone with a low paid job with none spare??

    The lenders will be queuing up. You'll have to sell stuff, a loan is not forthcoming.

    Haha :rotfl:
    Can I find out my credit score?
    You do not have a single credit score or rating. Different organisations take different information into account when working out your credit score and may have different scores for different products. (Kindly from Experian)
  • MrSweeps
    MrSweeps Posts: 10 Forumite
    Tixy wrote: »
    Nobody will lend that sort of money unsecured regardless of your credit history.


    Hello - not being funny, but I wonder why you say that? Whereas I agree the "bad credit" people have no chance, there are a multitude of mainstream lenders offering up to £15k at representative 8%-ish who will do this no problem today. I know this as I've taken a Santander (previously A&L) loan for 15k over 3 years, every 3 years as I change my car every 3 years. The latest one (my third) for £15k is at 10.2%, is clearly not as good as the last at 7.9% I got, but in real terms the repayable amounts at the best and worst interest rates is negligible.

    Santander, HSBC, and Barclays (to name but a few mainstream lenders) can, and do, offer unsecured up-to-£25k loans at decent 10%-ish rates for up to £25k, so to state that "nobody" will offer these isn't correct.
  • Tixy
    Tixy Posts: 31,455 Forumite
    MrSweeps wrote: »
    Hello - not being funny, but I wonder why you say that? Whereas I agree the "bad credit" people have no chance,

    You misunderstand my post.
    rolandi wrote: »
    but an desperate for the loan and need suggestions as to a decent lender please, who will lend, regardless of my credit history.

    Nobody will lend the OP that money "regardless of credit history" that being a quote from his own post. Any lender for this amount of money will take credit history into account.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • MrSweeps
    MrSweeps Posts: 10 Forumite
    edited 6 June 2011 at 1:02AM
    Ah, sorry - I read your quote "Nobody will lend that sort of money unsecured regardless of your credit history."
    as ...
    "Nobody will lend (TO ANYONE) that sort of money unsecured regardless of your credit history (whatever that may be)"
    as opposed to what I now realise you meant ...
    "Nobody will lend that sort of money unsecured TO *YOU* DISREGARDING *YOUR* ADMITTEDLY BAD credit history"
    :-)
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