Where to get a loan for £400/500 when you have very very bad credit and defaults??

Aphrodite868

Hi i urgently need to get a loan of roughly £400,
but ive got very very bad credit history, and think ive got 5 defaults on my credit file.


But so where is the best place to get a loan??

And would it be easier to get creditcard or loan?


I don't care what the interest rate they charge on it is.




Thanks

Aphrodite868

Edit-

Does anyone know some actual companies that will transfer the money into your bank account,
NOT just agencies who charge you a fee to try finding you the loan.


Im ONLY interested in the actual companies who will loan out the cash themself.

Tixy

I don't think any of the subprime credit cards will accept you with that many defaults.
So your options might be limited to Provident or Payday loan companies.

iolanthe07

Hi i urgently need to get a loan of roughly £400,
but ive got very very bad credit history, and think ive got 5 defaults on my credit file.

Why would anyone take the risk of lending you money when there is such a slim chance of them getting their money back? The bank of mum and dad? For such a small amount you may get a provident loan, though I think that even they might baulk at five defaults.

samhuzz

Aphrodite868 wrote: »

Hi i urgently need to get a loan of roughly £400,
but ive got very very bad credit history, and think ive got 5 defaults on my credit file.


But so where is the best place to get a loan??

And would it be easier to get creditcard or loan?


I don't care what the interest rate they charge on it is.




Thanks

My credit rating is about the same as yours, I also have one CCJ and no-where will touch me except the Provident, Shopacheck, London and Scottish type companies. I think they are your only option really as you wouldn't get a credit card, even Vanquis wouldn't give me one. How about credit unions?

angel81

What is it for? You might be able to get a budgeting or crisis loan

McKneff

Let's put it this way,

Would you lend you £500, no, thought not.

Aphrodite868

angel81 wrote: »

What is it for? You might be able to get a budgeting or crisis loan

Thanks i will try provident tomorrow.

Can provident take money (debit it) out of the bank account which they pay your loan into though,
even if you delete them as a standing order from your bank account??


Because i run a few online companies myself and so know that you can charge someones debit card through a 3rd party payment processor if you have their card number, expiry date, and cv2 code.

Have never known how i could 'debt someones bank account' though if the only info i had was their account number and sortcode,
apart from if a direct debit was setup from their account to mine and they didn't cancel that.


But ive seen on the net some horror stories about how paydayloan companies have taken money out of people's bank account without the person's permission...! :eek:


Not sure how exactly they could do that, but they seem to be able to somehow,
and so im not willing to risk giving any company my bank details if theres any chance they can take money from me without me manually allowing it.

Aphrodite868

angel81 wrote: »

What is it for? You might be able to get a budgeting or crisis loan

Its to pay off an electricity bill.

(Well 7month's worth of usage, split between two 3months bills,
plus the usage for june which hasn't been added to my previous bill that i got sent at end of may)


By end of June the total amount owed will be £320 (give or take a few quid),
so technically i could even be ok with just £350-£400 loan.



Although if i could get it upto £450/£500 that'd be nice as the extra £150 would be useful to keep for safety money.

I_luv_cats

Negociate a repayment plan (and stick to it) with your energy supplier!! (why add more interest to it!)

Speak to consumer direct / national debtline if you need help.


If you are in need, you could try a benevolent fund or trust fund.

Aphrodite868

Ive already applied to the Charis Trust/Brtish Gas charity trust to try getting the money to clear the bill,
although im not very hopefull that they will help.


I tried to use them a few months ago but they turned my request down saying that they only offer money to people where they think getting into debt would only be a 1-off occurence for that person,
but don't give the money to people who are severely in debt with no real hope of things changing in the near future.


So this time ive just not mentioned my creditcard debts or anything,
and instead have just said that im going to be moving out of my home to live with parents next month,
but will be unable to pay off the bill before i move out.

And so the payment from them would help loads as itd clear all the debt linked to this property so that the future residents wouldn't suffer,
plus i won't be getting into anymore debt as i won't be paying for electricty anymore as will live with parents.


Hopefully they will buy that and clear the debt,
but until the money is in my bank account/british gas account from them im not going to start getting excited.