unsecured loan

regularsaver1

so you would have tax assessement docs to prove income?

hopeless_case_2

yes will do only one year though

jonesMUFCforever

What goods ? What supplier? God you're awkward to deal with.
Can you not trade your way out of trouble?
If not go bankrupt!

hopeless_case_2

Would have thought telling someone to go bankrupt would be the last thing you should do.
My business is a franchise and i owe the franchisor for the goods (why do you need to know what they are does it make a difference)They have asked me to get a loan to pay what I owe them and use some of it to build up the business so I get a better income and earn enough to pay them for my supplies and get a wage.Does this make better sense to you.iam not awkward just want a bit of advice

grey_lady21

If you have a default an unsecured loan for that amount on what you have earned so far would be pretty unlikely. If you already have the goods, can you not just start selling them to pay back the franchisor? Or look at bringing a partner in, or talk to a local business advisor, im thinking of the link network or your business banking advisor etc etc

hopeless_case_2

Have sold the goods. the business advisor sounds like a good idea may try that

nomoneytoday

The whole point is the supplier gives you products, you sell them and then settle the account. Since you have sold the goods, why can't you pay the supplier?

If the overheads are too high then can they be cut down, or is there a more serious underlying issue.

Only you can answer honestly to yourself.

hopeless_case_2

yes i have overheads and by the time I have paid them I have nothing left for income which is why I am in debt. I came on this site to find a solution. So far I have only had people tell me the problem. I know the problem would just like a solution.Help only answers please.

jonesMUFCforever

I have given you the answer - Bankruptcy or an IVA.
Seek proper advice - wind down the business sell what you can and get a salaried job.

M_Thomson

hopeless_case wrote:

Please help need an unsecured loan for 12000 unfortunately I am self employed cant prove income and have a credit rating of 600 yes bad I know.
Grateful for any response:eek:

If you got the credit score from Equifax of Experian, then these mean nothing. They are generic scores which are designed so you can part with a fiver or how ever much it costs! Each lender will score you differently according to the criteria they use.