Help finding a loan for bad credit

klee1505

Good Morning
Sorry if this is in the wrong place but i wasnt sure,

I dont have the greatest credit rating and ive come to the decison that i need a loan to pay off my debt,

Im looking for a £2500 to pay over 2 or 3 years.
all i can find is yes loans but looking at the reviews on them its not looking good.
im not in the situation to get a garentor to help me either

Many thanks

Little_Miss_Uni-Debt

I looked at YesLoans and when I worked out the interest it was shocking. Also you still have to pay the fee even if they find you a loan and you aren't approved. I've come to learn that good deals for bad credit simply don't exist!

I started at £1000 overdraft debt plus a £500 credit card, got a loan to clear it but ran it aalll back up, so I got a loan for £6k and did the same again. I did this ALL the way up to £12k. Each time I had a loan I was adding £400 onto my debt! Not bringing it down!

You're currently in some debt but it certainly sounds possible to get it under control in a few months.

I *know* you'll get a string of comments saying don't get a loan.

Please, simply post up your current incomings/outgoings and debts and the wonderful people here will find a solution for you that is way better than paying more for a loan.

Go to http://www.makesenseofcards.com/soacalc.html type in aaalll your info - hit the MSE button and copy and paste it back up here!! Once we know what interest you're paying we have a better idea what is better value for you!

Remember, you can't borrow your way out of debt!!! There's SO much on here people can help you with and it's ALL FREEEE!!

Best of luck!

gonzo127

as above the best thing to do first is look at your budget, as this will tell us and you what you can afford

a consolidation loan is usually a bad idea since it will not solve the cause of how you got into debt in the first place and is all too easy to carry on overspending and end up in more debt and this is from experience so please do not think we are judging you everyone on here has debt problems so we have all spent things we couldnt afford but its a case of recognising it and working how best to solve it

complimentschemistry

Yes Loans charge a fee before they give you your loan, and from what I've heard they sometimes don't even give you the loan! The best bet is to try and write to your creditors to try and reduce your payments instead of getting another loan to pay them off... some creditors even freeze interest as a goodwill gesture so you might be better off this way.

Hope this helps.

pepe2008

Yes Loans are just one of many who will charge you a 'finders fee' for simply sending your details to any one of a number of random lending Sources.
If you dont qualify for a Loan with one of them they will pass your details to any number of other Lending sources who will then plague you with phone calls whilst offering ever increasing rates and Charges.

Dont pay anyone for this sort of advice.