Bad credit loans

mikepreece_2

Hi Guys,

I have had a DMP with CCCS for about 3 years now, and I am looking to get a loan for £6500 to clear off my DMP and also a £1500 overdraft (i an idiot i know) so that I can improve my credit rating.

I actually owe £8000 on my DMP, but I had had a letter from 1 company saying if I can 35% of teh debt, they will write the rest off, so im hoping that if I write to the over 2 companies,they will do the same thing.

Firstly, do you think this is a good idea? And secondley, coz my credit rating is rubbish, where is teh best place to get a loan from?


Thanks in advance

~Beanie~

No it is definately NOT a good idea! The whole point of a DMP is to manage your debts and you should have learned your lesson by now, not be looking to take out more loans.

The very fact that you are in a DMP will have trashed your creduit rating anyway so you are incredibly unlikey to be accepted anywhere.

mikepreece_2

Ok cheers.

jopwo_87

Beanie is definately right. Stay away from more credit

jamielee_2

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speak with your bank, they should be able to tell you your options.

hope everything goes well for you