'Human' Loan Application?

boomers_2

Hey

First off, I have 2 defaults on my credit history from 4 years ago... since that period I have very little debt (£1k on 2 credit cards) which I have never missed a payment on.

Myself and my girlfriend have a joint bank account, since the defaults I've got a new job which I've been in for 2 years now and have become very aware of our finances.

At the end of the month when all bills, even allowing for variable bills such as shopping and telephone bills, clothes etc etc - we have in between £500 - £1000 of 'spare' money left over. The amount varies as I have a period every month of being 'on call' so a busy month generally means £1000 and a month with no calls will mean £500.

I want to get a small loan of £4000 - £4500 for purely recreational reasons but I'm having problems due to (I assume) the default notices, but as I've said I'm in a very different place financially now. I could apply with a 'bad credit' lender but to be honest I hate the idea of having my pants pulled down on the repayments. I was wondering if anyone had any success in going into their back or a lender with payslips and a list of income/expenditure to prove the loan is of minimal risk.

Would appreciate any help/hints/info that other people have picked up in similar positions. I do want the loan in my name as oppossed to my girlfriends.

[Deleted User]

why not just save the spare £500-£1000 you have each month you will have around £4000 in 6 months and wont be stuck repaying a loan with an apr probably 15%+

boomers_2

Thats absolutely one option for sure, however not an answer to the question of whether anyone else had experience with a lender of showing their income/outgoings to highlight the minimal risk associated with a loan

woody01

The only chance you would have is with your own bank as they can see you finances from month to month.
No other mainstream lender will touch you with defaults.

Unfortunately aswell, you may have dragged your girlfriend into this, because although she 'may' have been credit worthy before, you now have a joint bank account and she would be classed as 'guilty by association'.

boomers_2

woody01 wrote: »

...Unfortunately aswell, you may have dragged your girlfriend into this, because although she 'may' have been credit worthy before, you now have a joint bank account and she would be classed as 'guilty by association'.

I found this out recently, i had some bad info that it wouldn't effect her credit so we got a joint account. Had i researched a little i'd have seen the detrimental effect on her rating

Thanks for the response, i'll attempt my bank this weekend.

Jon_B_2

If it's purely for recreational reasons and you could save the amount required in 4 months at the earliest I cannot possibly think of a worse reason to get a loan.

Sometimes this forum baffles me.

CLAPTON

how many months have you been saving 500-1000 ?
and how much is saved?

boomers_2

Jon_B wrote: »

If it's purely for recreational reasons and you could save the amount required in 4 months at the earliest I cannot possibly think of a worse reason to get a loan.

Sometimes this forum baffles me.

I appreciate your interest and opinion but truly, you've not attempted to make a response to the question so I find your post pointless.

geoffky

I get a feeling you will become a regular to these boards........you are on a very slippery slope and can not see it.....oh welll...

[Deleted User]

4k? put it on a credit card with 0% on purchases if you're so sure you'll be able to pay it off within 6 months

no_more_cards_for_me

Come on then, recreational reasons - bloody stupid to get a loan for what ever the hell that means????????????

What reacreational reasons justify getting into debt ?

You have previously proven you can't manage money via the defaults so the best option is your bank as previously mentioned by Woody01. Your have at least another 2 years before the defaults disappear from your record. 0% isnt really a option as your unlikely to meet the qualifying criteria.

However as your saving £500 - £1,000 why can't you just save the money. Given your previous experience I would suggest its far better to save the money, avoid the debt and hopefully by the time you get enough
together, these recreational reasons won't seem so important ???