Where can freelancers and people without full-time contracts get a personal loan?

Paul_Enki

I have a very good credit score and low debts. Unfortunately, recent circumstances forced me to use my main credit card a lot. The interest rate on this card is 17.9% APR. Now I want to take out a 10,000 pound personal loan to clear the credit card and give myself a couple of thousand pounds of spare cash to buy a second-hand car with. Annoyingly, however, the companies that offer low (sub-9% APR) interest rates say that regardless of my excellent credit score and regular earnings, I need to have a full-time job contract before they can consider me. I am a supply teacher, over 45, and a good earner. I have never missed a credit card or loan payment in my life. Can anyone tell me how I can secure a decent personal loan at a good rate without having to look for a full-time job? There are many thousands of supply teachers - and other freelancers - out there who earn very well (over 2,000/month) and are in the same situation. Any help or advice would be much appreciated.

Best regards,
PE

CLAPTON

how much do you earn?

how much is your existing debt?

Paul_Enki

Thanks, guys. I'm going to check out Zopa, but I'm not sure if it's for me. I really just want to consolidate a couple of debts totaling around 7,000 and give myself a couple of thousand to buy transport. I think I'd prefer to go with a reputable lender. Keep the ideas rolling in please.

As for how much I earn, it varies between 1,500 and 2,500 a month.

Best regards,

PE

CLAPTON

a loan company will see your debt as 7k plus 10k i.e. 17k so although you may be intending to repay the 7k there is no obligation to do so.

so as a self employed person with an income of say 24k pa then you will sruggle to get a loan anyway and certainly at a decent APR.


maybe concentrate on paying as much as possible back may be a better option

Paul_Enki

Thanks, but I need to get a low interest rate loan to replace my high-interest rate credit card.

PE

jonesMUFCforever

Have you considered balance transferring the card balance to a new card.
I know this would not help you with your loan application but might be something to consider for the majority of your debts.

From your salary how much do you save each month?

FTB77

Paul_Enki wrote: »

I'm going to check out Zopa, but I'm not sure if it's for me. I really just want to consolidate a couple of debts totaling around 7,000 and give myself a couple of thousand to buy transport. I think I'd prefer to go with a reputable lender.
PE

What's wrong with Zopa?

eschaton

jonesMUFCforever wrote: »

From your salary how much do you save each month?

buugger all I guess with debt like that despite supposedly high earnings