Bad Credit Loan

runciman94_2

Hi, Can any one help. I have bad credit history and looking for a loan of aprox £4000 which company should i look at. preferably someone who isnt gonna charge an up front fee.
Thanks

Beast

How 'bad' is your credit history? Are we talking a few missed payments, a CCJ, defaults?

runciman94_2

I dont have ccjs or defaults, its just missing payments and over credit limit.

Tixy

Most bad credit places tend to lend smaller amounts of money.

Can you give us some more info?

What is the loan for?
What debts do you have currently? Are you employed? How much do you earn? Are you a homeowner?
How much can you afford to repay to the loan each month?

runciman94_2

Yea, loan is for a car seen as mines just died.
I currently have 2 credit cards 1 overdraft and 1 loan.
Full time employment bringing in 1400 per month after tax.
I am a private tenant in my current property.
I can afford £160 per month.
£4000 was my maximum so anything between £2000 to £4000 really.
Thanks

CHR15

It begs an obvious question...

With 2 CC, 1 OD, 1 Loan, Missed payments and exceeding credit limits..... are you sure you have £160 left at the end of the Month to repay a loan???

runciman94_2

Yes i do thanks very much.

woody01

The only place that will touch you is your bank, and i find that very unlikely.

You say you can afford £160 a month, but with the missed payments/overdraft, i think you are kidding yourself.

dbl5252

I work for a car finance company and we would not lend you money by the sounds of it as you have slow payments and possible a little stretched.
But companies that will would be Advantage finance or First Response finance or AFC car finance but they will all sting you for a high rate.

fozmcfc

runciman94 wrote: »

Yes i do thanks very much.

The point CHR15 is making, is that if you are in your overdraft, have balances on 2 credit cards and still owe money on a loan, then you don't have £160 a month spare.

That's before we take your bad credit history into consideration.

If you have more money to your name than you owe, then and only then could you consider that you have any money spare.

Even then because of your bad credit history, even if you had £100,000 to your name in the bank, then you still wouldn't necessarily get credit from anywhere at a decent rate.

ILW

Sorry, but I cannot see how somebody with £160 per month cash to spare would be exceeding limits and living off an overdraft. It does not add up.