Unsecured loans help

pfarre10

Hi there,

I was just wondering if anyone knew if it was hard to get an unsecured loan if your self employed and have been for less than a year. I've looked at some info online and see that you have to earn more than £10,000 a year. I've nearly earned that much in 6 months and should make around £25,000 this year. It seems that if your self employed everythings much more comlicated.:mad:
I'd be really greatful for any help or advice.


Thanks.

Fiddlestick

pfarre10 wrote: »

Hi there,

I was just wondering if anyone knew if it was hard to get an unsecured loan if your self employed and have been for less than a year. I've looked at some info online and see that you have to earn more than £10,000 a year. I've nearly earned that much in 6 months and should make around £25,000 this year. It seems that if your self employed everythings much more comlicated

Put yourself in the lender's shoes.

If someone came to you looking to borrow money and offered you their word that they had earned 10k in 6 months, would you accept them?

Where is your assurance that their self-employed business is profitable?

Would you not want to see 2 or 3 years worth of accounts to prove their earnings and the sustainability of their business?

Sorry to be the bearer of bad news, but it might prove tricky if you can't prove your financial stability at this point.