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Loan after bankruptcy
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# 1
nazd
Old 19-10-2013, 4:26 PM
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Question Loan after bankruptcy

Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help
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# 2
DCFC79
Old 19-10-2013, 4:33 PM
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Quote:
Originally Posted by nazd View Post
Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help
A lender that costs the earth might be your only option.

Have you checked out the bankruptcy board ?

What is on your credit file ?

Whatever you do dont go searching for bad credit loans or alike a sthat wont help.
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jonesMUFCforever
Old 19-10-2013, 6:14 PM
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Only one company comes to mind AMIGO - oh but they require a guarantor. Would be much simpler and cheaper if the guarantor got a loan in their name and gave you the money.

Would I personally lend to you - would I 'eck.
What goes around - comes around
give lots and you will always receive lots
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BugsyBrowne
Old 19-10-2013, 6:33 PM
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Quote:
Originally Posted by nazd View Post
Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help
I suppose after going BR I'm sure you'll most probably have a few quid in your pocket left over each month now but finding a company that's going to lend you any money is another thing..
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# 5
droiderm
Old 20-10-2013, 8:54 AM
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Quote:
Originally Posted by nazd View Post
Hi, I was wandering if someone could help/advise etc. I need a loan to purchase a car. However I had to declare bankruptcy nearly 2 and a half years ago so I am disch gybed and trying to build my credit rating back up. Can you recommend a company etc for a loan that's not going to cost the earth?? Please help
Forgetting about asking who can give you a loan , ask yourself do you really need one. I would be very careful about getting out any kind of large amount of credit.

How do you propose to pay for the loan?
Can't you save for a few months and buy a really cheap car for the time being ?
9700 10700 saved since September 2012
Target 37500 if I want to be on the mortgage
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alastairq
Old 20-10-2013, 10:14 AM
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Ignore the self-righteous responses from the ignorati.

The BAnkruptcy stays on your credit file [for what that's worth these days?]....for 6 years from date of BR.

For conventional loan applications this might prove a hindrance.

However, [thinking ahead for the moment] why not start up an account with a local Credit Union?

Also, many car dealers are more interested in getting customers onto credit payments [rather than selling the car]...so a dealer might be worth investigating?
No, I don't think all other drivers are idiots......but some are determined to change my mind.......
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# 7
nazd
Old 31-10-2013, 12:52 PM
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Aha thanks for the advice people
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