loan required for someone with bad credit

honeypot33

long story short got myself in to a muddle with finances and my credit score is in the toilet so can anyone make recommendations please

bryanbukowski

Just bear in mind that you will need to pay a very high interest compared to what you're used to.

Unfortunately much of the advice I've seen on such forums has been very negative against such companies as they are dealing in a high risk business so charge a lot of money for their lending.

If you are looking for more than £1000 then you will need to arrange someone to back your application who can stand as guarantor. If you are looking for less than £1000 then you should expect an APR of around 200% from a doorstep lender.

This advice presumes you've looked at all other routes and are certain you do need a loan. I'd suggest to take any negative posts about guarantor loans or doorstep lenders being 'loansharks' with a pinch of salt. These are your best options so you need to be prepared to compromise.

Hope this helps.
B

michael1983l

Everyday loans will lend £1000 to almost anybody but there is setup fee's and a high interest rate of around 75%. You will also be required to visit their office.

Surely though it would be better to speak to your current creditors about payment plans and reduced payments whilst you can't afford your current one?

bryanbukowski

Good call Michael1983l !

Everyday Loans could be a good shout though I think whilst they aren't too concerned about a good/bad credit rating, anything more than a couple of defaults/CCJs they may not be able to help.