Is a Secured loan my only option..?

ferry

Just wanted to get some thoughts on my situation.Firstly due to my chequerd credit history,I'm not going to qualify for any reasonable unsecured loans or low interest cards at present.
My bank(Barclays) are not able to assist with any further borrowing at this stage which I explained was to clear my overdraft and a small loan with them and reduce an extortionate overdraft rate..
My overdraft facility is due to expire in September..and I'll be surprised if this is extended.So I'll be hit with massive charges if I dont get my overdraft in order.In fact it would probably do me a favour as my overdraft does now need to be addressed.
I've cut back where I can but need to cover the expiring overdraft facility.
Fortunetly I only need to borrow about £1200 short term.
In this case,under my circumstances,would considering a secured loan actually be a consideration..?

T.

ferry

Just spotted after a search that it seems you can only borrow a minimum of 5k...:rolleyes:

Luke

A couple of years ago barclays were trying to sell me a product which was a small flexible loan. It is probably based on cahoots flexible loan. But what I can remember it was about the £3500 region. They may well have scrapped it since.

If you are borrowing to consolidate it would be worth posting your SOA in the DFW boards.

regularsaver1

a further advance may be able to offer you the smaller amount on your mortgage but at a fee - is it really worth it

also they'd most probabaly have to credit score you anyhow

Katielou_2

cahoot hwlped me where others failed and theres also a flexible loan which ive got and is quite good. Dont go down the road of secured if you can help it I did and wished id never bothered, Not worth it for £1200