Credit Score 599: Loan required! Any Ideas?

cogbot

Hi all,

I have an Experian credit score of 599, which I am assuming isn't considered really great. Was wondering if any one know any place where I can get a loan with this credit score? I tried my bank and they said I am close enough to get a loan as per my rating and I should check in a couple of months or so. But I need the money within a weeks time to pay for wedding expenses. I am looking around £6000-7000. Any reply and advice in this regard would be highly appreciated.

Dabooka

If your bank have said no, I think you're scuppered. You'll be looking at sub-prime which will take your eyes out.

After getting married myself earlier in the year, I'm a tad confused hwo you've got that much expenditure due in a week?

Oh,. and don't fall for any brokres who'll tell you they have a loan waiting but you need to pay £60-£70 admin fee, you'll not get the loan and you'll lose most of your money

cogbot

Thank you for the reply message, especially about the advice on brokers. Definitely not falling for that.

Its a long story about the expenditure. Well the bank did allow me an overdraft of 2500, but I don't want to use it. Some how it seems a loan might be a better option with fixed out going every month, even though I have always been against paying any kind of interest. Given the amount I need I think its going to be hard to collect a couple of credit cards as well and do a balance transfer.

Dabooka

Hmm, you assume you're going to be able to get a couple of credit cards with a good enough balance and then get a card that offers a tasty 0%? Yet your own bank won't touch you for a loan? DO you not see the possible problems here?

You really need to post more info if you want detailed advice, such as current loans, credit cards (including balances and limits), overdrafts, your income and if you have any missed payments, CCJs, defaults etc. Also are you on the electoral roll?

Although these "credit scores" pretty much viewed as worthless the fact yours is a low one makes me think there's a history here.