I Need A £3500 Loan But My Bank Wont Give Me PLEASE HELP!

monty1989

Hi All,

I require a loan of £3500 so I can clear my overdraft as i am getting silly charges from my bank for this overdraft.

My credit scor probably wont be great as I am not on the voters roll.

But can anyone point me to a website that has good rates for a loan and possibly have a higher acceptance?

Any help would be greatly appreciated.

Im only 20 years old.

Thanks all
Jamie

ViolaLass

Why not get onto the electoral register? It can only help your chances and it won't cost you anything.

Beast

It would also help if you told us:

How much debt you have (overdraft, store cards, credit cards, loans)
How much you earn

monty1989

I earn £720 a month

Then here is my bills that come off:

£150 for digg money
£40 for phone contract
£30 for web services
£164 car insurance

Then I get charges for the over draft which can be about £40-£50


Is there any websites that will let you borrow money with no credit check or something?

Thanks
Jamie

Beast

It's going to be a combination of not being on the electoral register plus low income which will have caused the decline.

There aren't any banks who will lend without checking your credit report first, that would be madness. There are less mainstream lenders who will probably lend to you but their interest rates and charges will likely be more than the ones you're paying for your overdraft.

monty1989

Is there nothing I can do

Mrs_Jojo

You could pop over to the Debt Free Wannabee Board, post a proper SOA with all your outgoings and incomings on it and get some advice about cutting your expenses so you can pay off the OD - DO NOT try and take the sort of loan you could get with no credit check, it will lead you into VERY BAD PLACES and lots more charges!!!

IcklePickle_2

Are the charges overdraft excess fees? If so, can you cut back your spending for one month, so that you can get back into the agreed overdraft limit and then the charges will stop?

Beast

The general advice would be to look to cut down your monthly outgoings - car insurance aside, all of yours seem to be luxuries rather than things you need and would probably make a difference.

david39

This may be a complete no-go from your side but, if you sold your car and used the proceeds to clear some of your overdraft and then used the £164 per month to clear the rest of it, you'd be debt-free in less than 2 years (depending on the value of the car).

Also - what is the web service you are using that costs £30 per month - presumably via your mobile phone - if you could do without that you could repay £360 in 12 months.

If you followed the above, you'd be debt free possibly in less than 12 months, because your overdraft charges would reduce as the debt fell and you could plough what you save from that back into clearing the debt even faster.

Getting a second loan to clear an existing one is unlikely to work in your case because you will only be accepted by high-risk companies charging very high interest rates. If you do go down that path, don't get involved with anyone who charges you a fee to find you a loan.

ViolaLass

monty1989 wrote: »

I earn £720 a month

Then here is my bills that come off:

£150 for digg money
£40 for phone contract
£30 for web services
£164 car insurance

Then I get charges for the over draft which can be about £40-£50.

That's a total of £434. Where's the rest of your money going?

monty1989 wrote: »

Is there any websites that will let you borrow money with no credit check or something?

Thanks
Jamie

Only if you feel your kneecaps aren't strictly necessary to your enjoyment of life.