Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • herman1rg
    • By herman1rg 9th Oct 16, 8:29 PM
    • 3Posts
    • 0Thanks
    herman1rg
    Searching
    • #1
    • 9th Oct 16, 8:29 PM
    Searching 9th Oct 16 at 8:29 PM
    Hello newbie here

    I have a question, I am in receipt of a Teacher's pension payment every month as a Widower of a Teacher.

    I want to use the approx £200/month to finance the repayments of a loan for £10,000, my credit rating is not the best any advice on the best companies?
Page 1
    • zx81
    • By zx81 9th Oct 16, 8:49 PM
    • 13,150 Posts
    • 13,453 Thanks
    zx81
    • #2
    • 9th Oct 16, 8:49 PM
    • #2
    • 9th Oct 16, 8:49 PM
    With that kind of income and a poor credit history, you won't be getting a 10k loan.

    Do you have any other income?

    Thanks
    • herman1rg
    • By herman1rg 9th Oct 16, 8:52 PM
    • 3 Posts
    • 0 Thanks
    herman1rg
    • #3
    • 9th Oct 16, 8:52 PM
    • #3
    • 9th Oct 16, 8:52 PM
    Of course, I have a full time job
    • DCFC79
    • By DCFC79 9th Oct 16, 8:58 PM
    • 29,949 Posts
    • 18,969 Thanks
    DCFC79
    • #4
    • 9th Oct 16, 8:58 PM
    • #4
    • 9th Oct 16, 8:58 PM
    Whats the apr of the loan ?

    Hard to give a list of companies for you to apply for as you might not even be able to get a loan.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • zx81
    • By zx81 9th Oct 16, 9:04 PM
    • 13,150 Posts
    • 13,453 Thanks
    zx81
    • #5
    • 9th Oct 16, 9:04 PM
    • #5
    • 9th Oct 16, 9:04 PM
    Of course, I have a full time job
    Originally posted by herman1rg
    Then the pension by itself is irrelevant. What is your income and why is your credit history poor?
    • herman1rg
    • By herman1rg 9th Oct 16, 9:11 PM
    • 3 Posts
    • 0 Thanks
    herman1rg
    • #6
    • 9th Oct 16, 9:11 PM
    • #6
    • 9th Oct 16, 9:11 PM
    Why is it irrelevant?
    • CLAPTON
    • By CLAPTON 9th Oct 16, 9:14 PM
    • 41,656 Posts
    • 30,687 Thanks
    CLAPTON
    • #7
    • 9th Oct 16, 9:14 PM
    • #7
    • 9th Oct 16, 9:14 PM
    Hello newbie here

    I have a question, I am in receipt of a Teacher's pension payment every month as a Widower of a Teacher.

    I want to use the approx £200/month to finance the repayments of a loan for £10,000, my credit rating is not the best any advice on the best companies?
    Originally posted by herman1rg
    no, no one will give you a loan on the basis of 200ppm pension

    however, you may get a loan based on your total income and your credit records
    • DCFC79
    • By DCFC79 9th Oct 16, 9:19 PM
    • 29,949 Posts
    • 18,969 Thanks
    DCFC79
    • #8
    • 9th Oct 16, 9:19 PM
    • #8
    • 9th Oct 16, 9:19 PM
    Whats exactly on your credit file ?
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • zx81
    • By zx81 9th Oct 16, 9:28 PM
    • 13,150 Posts
    • 13,453 Thanks
    zx81
    • #9
    • 9th Oct 16, 9:28 PM
    • #9
    • 9th Oct 16, 9:28 PM
    Why is it irrelevant?
    Originally posted by herman1rg
    Because credit is determined by total income (and credit files) not by a sub set of income.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,612Posts Today

8,869Users online

Martin's Twitter
  • Shana tova umetuka - a sweet Jewish New Year to all celebrating. I won't be online the rest of t'week, as I take the time to be with family

  • Dear Steve. Please note doing a poll to ask people's opinion does not in itself imply an opinion! https://t.co/UGvWlMURxy

  • Luciana is on the advisory board of @mmhpi (we have MPs from most parties) https://t.co/n99NAxGAAQ

  • Follow Martin