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    • Beaujolais7
    • By Beaujolais7 17th Oct 16, 9:53 AM
    • 4Posts
    • 0Thanks
    Bad credit help
    • #1
    • 17th Oct 16, 9:53 AM
    Bad credit help 17th Oct 16 at 9:53 AM

    I have a bad credit score 511, and 2 defaults, which is'nt good, i know. I was made redundant just over 2 years ago, I had mortgage insurance so that was covered, I had a loan which I kept up payments with, and 3 credit cards who I got in contact with and explained my situation and where very helpful. I was unemployed for a few months did a start your own business scheme via the jobcentre for a couple of months then a great job appeared and I got it. I've been in the job 2 years fulltime and paying of my credit cards, finished my loan payments, never missed mortgage or credit payments, and am better off than I have been in years, after sorting my money out.
    But my car has died and I need a loan, i have some savings but not enough to buy a decent car (would like a safe family car) the problem being I have 2 defaults from credit cards. Is there any chance I could get a loan of £2000, I have done the sums and I can budget £150-200 a month, but without it being a crazy interest loan.

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    • Pixie5740
    • By Pixie5740 17th Oct 16, 9:58 AM
    • 9,893 Posts
    • 13,501 Thanks
    • #2
    • 17th Oct 16, 9:58 AM
    • #2
    • 17th Oct 16, 9:58 AM
    There's no such thing as a universal credit score. That 511 is just a marketing tool from one of the credit reference agencies (none of which lend money I might add), not lender can see it never mind use it.

    The cheapest way to borrow £2k will probably be a money transfer credit card. You can try the MSE Credit Card Eligibility Calculator to find out how likely you are to be accepted for one.
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
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