Bad credit loans

Aasimuk

Hello!
First post here, so please forgive me if what I'm asking has already been covered (I went back about 20 pages, but nothing mentioned)

I've got a very bad credit rating, 5 defaults, and outstanding debt totaling around £3000, I'm wanting to start a fresh now, and looking at getting a loan to do this (I know I shouldn't be doing it like this, but by having one loan, I know I can really make a go of this)
Interest rate isn't really a problem for me. I've moved house 3 times in the last four years, so I know this is going to go against me too. I've noticed a few of these websites like Eurocredit and the like which say they do loans for bad credit people, and I've been provisionaly approved for a loan of £5000, but what does that actually mean? Is it a case of saying I've been provisionaly approved to get my details, so they don't lose a customer, and they then turn me down?
I'm getting to the stage of being rather desperate now, as I need this loan for deposit on a house to rent, so I can get back into work again. Also, if anyone could recommend a bad credit lender (apart from the Provident!) that would lend £5000 on a 3/4 year term.
Many thanks in advance for your help

Sugar_Coated_Owl

Provisionally approved doesn't mean that they will definately approve you for a loan. I believe it means just what you said-'to get your details'.

Is another loan the correct route to be taking? It may just make things worse.

If you aren't in work at the moment, how do you propose to meet the loan repayments?

*Ellie*

roswell

well 5000 over 4 years @ 30% apr with no payment protection is £180 a month and a total repayment of £8641 .... i think if you take a walk over to debt free wannabee with a full list of incomming / outgoings someone will be able to help.

Rule Number 1 - Never borrow more than you need to.
Rule Number 2 - Never borrow longer than you need to.
Rule Number 3 - With a little help and being carefull in the future rule number 1 and 2 wont apply.