Best loan company to go to & can i get a loan for this purpose?

workinghard81

Hi, i am having abit of a nightmare

I need to get a loan of 7k. I applied to Sainsburys but they have said no, although im not sure why, im not sure if it was because i took ages to get them something with my tax refrence & address on it.

They came back anyway today & said no.

I need a loan as i have
£1.900 on a overdraft to Lloyds
£1,500 on a credit card to Lloyds
£3,500 i have to pay for a tex bill

Last year things got tough for me, i lost alot of business with the credit crunch although am fine again now & all my customers have pretty much come back to me. Because of this though i was just surving & i just did not have the money to put away for the tax bill.

I found out in October what i owed (i was late submitting it) & then Jan 2010 was here & they were asking for the money which i dont have

I can pay off the monthly payment thats they want.

I just looked at tescos but they ask what i want the money for, now the credit card is ok for Lloyds to put down. I do have a credit card with Tescos of about £1000 now that im paying & this loan is not to pay off that card.

The overdraft & the credit card is to do with business & im worrie that if i pyt Lloyds in 2x they will be abit ?? and it is also to do with business

The same with my tax bill im worried they wont let me have the loan because if this altough i cant put tqax bill but i cant put cedit card either as i dont owe that much & i cant put a loan as it says monthly payments

I was thinking of saying home improvements or something for the extra £3.500 which is needed for this tax bill

I bring home a month about £2300, well that is what goes through my bank to cover things.

My mortgage is almost going to 1/2 so i could once it goes down throw as much money at all this but i wanted to start saving it so that when i re-morgagte when the intrest rates go back up i have a lump sum to throw at it

I am having intrest added now on my tax bill, i know Lloyds are going to start asking for this money to pay the overdraft hence why it just makes sense & is easier for me to just get a loan

Will it come up that i owe x on my tax bill still, or can i just put that most if it is for home improvements with 4k to go on debt consolidation??

I was thinking even going to Lloyds & asking them for a loan but not sure they would as i have not touched the overdraft started trying to pay it back for ages & also i have the credit card, not sure if they would just say no as they have seen no money go through the account. Although when i was banking money up til Sept last year 26k went in, in the year

Tixy

What interest rate are you being charged by the tax office?

Its pretty unlikely that any lender who you tell you owe taxand have not been organised enough to put it aside will be willing to lend you money.

Also the fact that you are self-employed makes it harder to get credit..

You say you take home about £2300 - is this actually your profit after all business costs and after putting aside for the tax on your earnings?

What apr are you paying on the overdraft? is this a business account or a personal account?
What APR are you paying on the Lloyds card? is this a credit card in the name of the business or in your name?
What APR are you paying on the Tescos card? is this in your name?

Are you saying you have not been making any payment towards the overdraft. Are you up to date with repayments on the 2 credit cards?

Have you looked at a copy of your credit report? I would do that before applying to any new company. As each application you make has a negative impact on your rating.

workinghard81

Tixy wrote: »

What interest rate are you being charged by the tax office?

You say you take home about £2300 - is this actually your profit after all business costs and after putting aside for the tax on your earnings?

What apr are you paying on the overdraft? is this a business account or a personal account?
What APR are you paying on the Lloyds card? is this a credit card in the name of the business or in your name?
What APR are you paying on the Tescos card? is this in your name?

Are you saying you have not been making any payment towards the overdraft. Are you up to date with repayments on the 2 credit cards?

Have you looked at a copy of your credit report?

Had a tax thing through the post today & it said

Intrest £12.75 for 11/04
6th May 10 1st surcharge for 08/09 £112.38

So it has gone from £3,380 to £3,504 not sure what the intrest is

I am not sure on the APR for the business account, i ended up moving accounts as i was being charged £100 a month for putting through x amoutn of cheques & cash. I was permantley living on my overdraft, i would almost clear it towards the end of the month & then my mortgage was due & then i would go back to being about £1.500 overdrawn again. I have paid a few hundred in but im stull being charged £30 a month for putting money in & sometimes my CC bill came through late so the money came out of the Lloyds account with it being a Lloyds CC

The CC is in my business name same as the account. The business CC im not sure what the APR is cant see it on the statement but it is about £20 a month intrest

The tescso CC is in my name yes but i got it on my partners behalf she is paying it has not missed payments & has paid £1000 off it in the last 5 months. APR wise prob about 15% it was intrest free for a year

No i have not looked at my credit report