loans for bad credit ppl on benefits with no house to secure on

helsbels1982

hi

i was wondering if any body knew of any good loan companies that will lend to somebody that hasnt got a great credit score (although i do have 4 credit cards which ive never missed a payment and never gone over limit) and is on benefits but dont cost me to apply?


any suggestions would be greatly appreciated

thanks in advance

~Beanie~

If you are onlt getting benefits, what will you repay the loan with? What do you want a loan for? It doesn't sound like a good idea to me and I think you will struggle to get accepted anyway with no income and a bad credit record.

helsbels1982

i want a loan so i can pay off al my exsiting loans and credit cards so i only have 1 outing bill each month that will be much less than im paying all together now. also i want some extra as i am considring going private for my medical problem as im getting no were with the nhs

devils_vixen

It would depend on how much you are wanting. Only place I can think of is Provident. The APR is off the scale but I know they lend to all sorts. Also the loan goes on your file so will help build that rating back up.

helsbels1982

unfortunatly most of my loans are with the provident at the moment and i am paying £110 a month to them and so it is them that i want rid of because of the interest etc. unfortunatly at the time i had no other choice but to go with them as no-one else wud give me anything but now that i have credit cards i thought maybe id be able to get a loan from someone else but unfortunatly when i took all these loans out i was working but now im not so i didnt know if if being on benefits if any body would lend.

devils_vixen

Could you not take the money out using your credit card to pay off Provy? The try and do a 0% balance transfer?

helsbels1982

unfortuanlty all my credit cards are up to the limit and im not sure wether i would be able to get another credit card as i have 3 high interest ones - vanquiss, aqua and capital one. but i did get a barclaycard normal one last year which i transfered some money from each card as it was 0% transfer but unfortunatly some bad things happened last year and i had to use the cards again (i had to order new cards as i had actually cut them up). so im back to square one but with an extra credit card to pay. what i want to do is pay at least them 3 off and provident loan and then cut cards up!

devils_vixen

Might be worthwhile obtaining a copy of your credit report. I had a bad rating - infact so bad that even welcome finance knocked me back! 3 months later and my credit report in my hand I went back to the bank and was approved for my loan! All that had changed in those 3 months was obtaining an capital one card and a provident loan! Didn't know what my score was. Couple of late payments from earlier in that year but I still managed to get the loan! Sometimes though I feel it all depends on what credit referencing company the banks use! The day I was approved for my loan in one bank, I was declined in another for upgrading my account. I asked why and was told it was my credit rating!

helsbels1982

i got a welcome finance loan in 07 - 3 weeks b4 i ended up disabled and out of work!! but im lucky as i reclaimed ppi insurance last yr and got it all back. they took it of my balance but didnt change my payments so have been paying more than necessary for 2 yrs and so will be finishing it a year in advance.

i applied with experian about 4 years ago. i cancelled it before the trial ran out so will i have to pay to use it again?

devils_vixen

Yes and just cancel before the free trial is up. In meantime, do a car boot or place items on ebay to try and raise extra cash. It is amazing tha amount of items that people have lying around and the money that is made of these kind of things.
Just out of interest how much were you looking to borrow? As this could maybe be one of the factors that you are declined on.

helsbels1982

all credit cards add up to £3050
provident adds up to £823
i also have a catalogue (studio) which is £600
plusi have a bank account with an overdraft of £1250 but i currently owe them £1747 (i dont use this account no more)

so to just be able to clear all these i'd need - £4473 (6220 including bank overdraft)

i currently pay :
credit cards - £135 month
provident - £110 month
catalogue - £40 month

so to just pay everything of id need about £7000 ish (omg i didnt realise how much i actually owed :eek::eek::eek::eek::eek: ) but to actually have money to go private would mean id probably need £10,000 or possibly less.
to be honest id dont have to pay everything of but i would definatly want to get rid of the provident and my 3 high interest credit cards which cost £225 a month id need about £3500 with no extra.