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Loan help - Bad Credit Rating

Hey guys

My sister is in an extremely bad state at the mo, and needs help finding a loan. Not a large one, only abot 4grand i think she said but she has extremely bad credit rating. There are loads of different things which are happening for her and the bottom line is a loan is really all she can see to help her out, its more of a short term problem though so i dont no if that makes any difference in that she will be able to pay it back.

Problem is she probably wont get a loan from her bank, is there anywhere else she can try (THat doesnt charge you) to get one?

Or maybe a credit card or something she can use?
BCT:[strike]£16,500 [/strike] £0 HFC CURRYS: [strike]£520[/strike] £0 HFC PC WORLD: [strike]£800[/strike] £0 ARGOS CARD: [strike]£795[/strike] £0 ADDITIONS DIRECT: [strike]£625[/strike] £0 NATIONWIDE CC: [strike]£1560[/strike] £0 VIRGIN CC: [strike]£1500[/strike] £0 :j

Comments

  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    You know the answer to this, don't you? Why would any reputable lender take the risk of lending money to someone with a history of not paying her debts? She will only get a loan, if at all, from sharks or companies with stupid APR's, and so will end up in even deeper !!!!!! than she is in already. Get her to visit the debtfreewannabee board on this site for some practical help for sorting herself out that does not involve her taking on more debt.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    how bad is bad?
    income?
    property owner?
    existing debts?
  • I dont really no her income to be honest, she is only part time as she has a 1 year old, think she gets about £300 a month. Not entitled to any help because of her savings (which my dad has control of and will not let us have unless its for a house) she rents at the mo i think its about £700

    Iolanthe07, if i new the answer i wouldnt post on here would i. She is unhelpable in debt - i have paid her debts off for her once, her ex has done it once and my parents have done it twice (my debts were part because of her) I never said she doesnt pay her debts - she has always paid them, she just has quite alot of them.

    But at the end of the day, she is my sister and i dont want to see her in trouble. I think she will be ok from next month when she gets paid its just with being sick and losing almost 3/4's of her wages, plus xmas etc she has just gone OTT and now has no money to pay her car finane and other bills, plus living expenses
    BCT:[strike]£16,500 [/strike] £0 HFC CURRYS: [strike]£520[/strike] £0 HFC PC WORLD: [strike]£800[/strike] £0 ARGOS CARD: [strike]£795[/strike] £0 ADDITIONS DIRECT: [strike]£625[/strike] £0 NATIONWIDE CC: [strike]£1560[/strike] £0 VIRGIN CC: [strike]£1500[/strike] £0 :j
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
    I never said she doesnt pay her debts - she has always paid them, she just has quite alot of them.

    Sorry if I misunderstood, but you said that she has an extremely bad credit rating, so it was not unreasonable to assume that she had defaulted on debts - that is usually the reason for a bad credit rating. But if, as you say, she has quite a lot of debt, then she will find it hard to get more, and probably shouldn't anyway.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    I dont really no her income to be honest, she is only part time as she has a 1 year old, think she gets about £300 a month. Not entitled to any help because of her savings (which my dad has control of and will not let us have unless its for a house) she rents at the mo i think its about £700

    Iolanthe07, if i new the answer i wouldnt post on here would i. She is unhelpable in debt - i have paid her debts off for her once, her ex has done it once and my parents have done it twice (my debts were part because of her) I never said she doesnt pay her debts - she has always paid them, she just has quite alot of them.

    But at the end of the day, she is my sister and i dont want to see her in trouble. I think she will be ok from next month when she gets paid its just with being sick and losing almost 3/4's of her wages, plus xmas etc she has just gone OTT and now has no money to pay her car finane and other bills, plus living expenses


    Although it must be veey unsetting to see a close family member struggling but in reality if they wont address their own problems there is only so mcuh you can do. From what you said, she isn't really addressing her debt problems

    Rather than bale her out or get a new loan perhap persuade her to sign on at the debtfreewannabe board and for her to post over there
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