any good experiences?

k-e-l-l-y

I seem to be reading alot about peoples bad experiences whent trying to apply for a loan when you have poor credit.

Has anyone not had any problems?

selecta_c

Yes,about two and a half years ago i was looking for a loan too pay for essential repairs on my car and too attend a wedding abroad.I had no previous credit history.I tried for a loan through my bank but was refused.I came across a broker called UCC who did not charge a fee.I went through the application process and was accepted in principle by Welcome Finance.After sending my proof of wages,address and person too Welcome i was accepted and received my loan in the bank within a few days.I do stress that i know this is not the norm and from reading posts on here realise that a number of people have had bad experiences with these companies.I myself had too fight Welcome too reclaim my PPI for over a year.

jonesMUFCforever

k-e-l-l-y wrote: »

I seem to be reading alot about peoples bad experiences whent trying to apply for a loan when you have poor credit.

Has anyone not had any problems?

Just turn your question round - would you not be worried if people with bad credit history could get loans without problems?

Xbigman

Its not so much problems with sub prime loans but the inrestes rates. The majority of people with, say, welcome finance have recieved money and then paid it back. Ok, they got hammered with high interest but it all worked ok.
Why we all read about horrendous problems with these companies is that they have a higher than average default rates and they are ruthless in chasing non payers. Added to pressure selling, lousy customer service and a tendency to add high fees you get a nightmare every time something goes wrong.

I'm talking about legitimate sub prime lenders here, not the straight up scammers.
In the case of Welcome finance they were a legitimate lender. B*stards I grant you, but legitimate.
Regards



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