Unsecured loans... Yes Loans and The Credit People

djwmcnae82

Hi,

Im trying to get a loan to pay my Mother off as she lent me some cash and now needs it back. I have a poor credit history so was looking at The Creidt people and Yes loans but have since read reviews that they are a total scam!!
Who can I turn to? I want 25K but know I don't stand a chance of this amount unsecured.... any thing will help tide me over.

Any help?

jonesMUFCforever

With a less than great credit rating you have absolutely no chance of getting an unsecured loan of anywhere near that amount.
Sorry to be the bearer of bad news - if you have a property is there enough equity for you to re mortgage to pay back your mum?

How much do you owe your mum?
Having small loans from here there and everywhere to tide you over is not the answer.

djwmcnae82

Well, my house was repossesed from me about 4 months ago, just waiting to see if it sells.
Owe my mum 18K, CC's 4K then there are bills left over that my ex left for me to deal with amounting to about 1k.... so was going to see if could just tidy it all up into one place rather than £10 here, £15 there etc etc...

BLT_2

djwmcnae82 wrote: »

Hi,

Im trying to get a loan to pay my Mother off as she lent me some cash and now needs it back. I have a poor credit history so was looking at The Creidt people and Yes loans but have since read reviews that they are a total scam!!
Who can I turn to? I want 25K but know I don't stand a chance of this amount unsecured.... any thing will help tide me over.

Any help?

Even if you were to be accepted for a loan with one of these companies, and I suspect this really is a non starter, at their interest rates,which I believe are around 35% for that figure you would be talking in the region of 800 per month. I suspect this would be out of your league

jonesMUFCforever

You are going to have to break the news to your mum that she will not see her money again unless you win the lottery.
If your house was re-possessed the lender is only going to look to get their money back not market value.

I would get expert advice from a debt counsellor now - you may have to declare yourself bankrupt if you cannot carry on paying back your creditors.

djwmcnae82

ok, thank you guys.... that is what i thought the case would be, but hey you have to try.