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Urgent Loan Required £3000 - £4000 Real bad Credit Pls Help....

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  • DarkConvict
    DarkConvict Posts: 6,346 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Be wary of some loan companies, they may offer £3000 at 8%, but it can be a variable rate. As such come month 3 could increase to 30%.

    You want a fixed rate of interest on any loan you take.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • rudeyrobin
    rudeyrobin Posts: 8 Forumite
    I tried zopa.com and I dont qualify, thanks for the idea though!

    I'm really worried as seems that i am screwed and no way out. I should have the paper work for this loan from Guaranteed Loans so hoepfully that all goes through?!.....
  • david39
    david39 Posts: 1,968 Forumite
    You need to sell your car then, and get rid of the bailiffs.

    Then make arrangements with the others.
  • rudeyrobin
    rudeyrobin Posts: 8 Forumite
    If I sell my car could end up loosing my job as need that to work 2 days a week.

    I have tried making arrangements but none apart from Arc are willing to.

    Is there no place or company willing to take my car or/and tv as colleteral as they both amount to over £4000.

    I really do appreciate all your posts, just wish I had come to you all before it got this bad.

    Many thanks people
  • Gordon_Hose
    Gordon_Hose Posts: 6,259 Forumite
    Debt-free and Proud!
    Whatever you do, don't pay £49.50 for a loan, it's a scam...see this thread:

    https://forums.moneysavingexpert.com/discussion/comment/34572431#Comment_34572431
  • david39
    david39 Posts: 1,968 Forumite
    Absolutley correct, Gordon.

    Could you sell your car and buy an old banger for a shrt time to get you over the immediate crisis?
  • rudeyrobin
    rudeyrobin Posts: 8 Forumite
    It is an older banger David an old clio.... just had mot done etc and paid for insurance/tax....
  • DarkConvict
    DarkConvict Posts: 6,346 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Problem is getting a reliable old banger, 3 cars my friend got were all around £1000 and all naff cars that had to be returned due to 1 fault or another.
    These private payments are you sure these cannot be reduced, unless they are court enforced payments they will be unsecured and those non-priority debts.

    I agree the loan already sounds too good to be true.
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • rudeyrobin
    rudeyrobin Posts: 8 Forumite
    I have already paid the £49.50 dam...... I thought that may be my last hope!! Dam!!
  • Gordon_Hose
    Gordon_Hose Posts: 6,259 Forumite
    Debt-free and Proud!
    rudeyrobin wrote: »
    I have already paid the £49.50 dam...... I thought that may be my last hope!! Dam!!

    I'd ask them for a refund ASAP!!

    That's £49.50 you could have given the Bailiffs.
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