need a loan.. dont think i stand a chance.

krista87

Hi all,
After much reading on this forum i decided to join as you all seem to have great advice to hand!

Anyway a bit about me and my situation.
I need 3,000 loan but from reading other post here i dont think im going to get it and here is why.

1. I am a council tenant i have been at current address 18 months.

2. i have a fair credit rating made a few late payments to littlewoods although all my outstanding credit is settled and i owe no one nothing!

3. I am a single parent who does not work (my youngest son is disabled and i am his full time carer)

Despite this i have over 1,000 in bank each month i run my bank account well ive had for 2 years plus well and have never had bank charges from this bank.

i have been looking around as ive never had a loan i can easily repay repayments up to 130 a month but dont no where to start as ive never had a loan before.

After reading the posts here i truely believe im never going to be accepted as people with a better record and income have been refused.

Just for info i bank with barclays and dont have any pre-approved offers on my online banking which seems to say they see me as a risk has anyone with a little bit more insight maybe got any ideas or am i right willi be too igh risk due to my circumstances?

thankyou in advance for any help or even if you confirm what i fear!

Emmzi

it seems very unlikely. what do you need the loan for, perhaps there are cheaper/ better ways to meet that need?

CHR15

krista87 wrote: »

Despite this i have over 1,000 in bank each month i run my bank account well ive had for 2 years plus well and have never had bank charges from this bank.
!

Agree it is very unlikely but the above paragraph is your only hope. Your own bank may be more sympathetic as they can see how you manage your finances.

I wouldn't hold out much hope though. If your bank say no, I wouldn't bother applying elsewhere, and NEVER give out your bank details to a broker.

If anyone accepts you, come back on here and say who they are, people on here can research them.

krista87

Hi thankyou for your knowledge!

I need the loan for work in the house cosmetic mainly apart from one quite big job that i only have to buy materials for as my dads a builder yey! and some big items like fridge freezer etc im at that point where everything is breaking christmas coming up things need replacing all at once! im sure everybody has had those times! some things are more urgent then others and im already cutting back on things in order to save cash in my savings account but some things are more urgent due to my son.
I am usually quite good with money and if something is needed i save. I have had a few moments where i had late payments ( my eldest started school and i got his uniforms from littlewoods as matter of urgency) this is when my yoinger son was in hospital for a year and i was basically living there but still had to run the house for my eldest etc this added extra outgoings but that was a year ago now.

i just basically didnt want to do any more damage to my credit rating with searches etc for the long run as im sure things will improve one day!

just one more thing im 22 yrs old does this effect the critera for bank lending my cash etc?

Thankyou all im so glad ive found such a friendly forum!

Emmzi

ok... to tide you over while you save up for white goods, freecycle/freegle for second hand ones? Is there a specific charity associated with your sons condition, cos they may also have access to second hand goods. not great, but it'll keep you going!

crisis loan from the social?

also credit union if you can wait a few weeks for materials - most do small loans once you have been saving regularly for about 12 weeks

only other *safe* thing I can think of is clubby/ catalogue books. doesnt help with building materials tho!

Do not go to provvie/ welcome unless there is no other option - interest rates are horrible!

krista87

I have looked at freecycle in my area and nothing listed at present and i dont drive so can be hard to pick up etc!
I will definatly look into credit unions though as they do seem safe but im unsure of whats available in my area and im not sure of critera to open accounts with them?

My son has short bowel syndrome ( he is 2 and has 39cm of bowel newborns usually have 250cm to start with!) which is severe and rare and he has developmental delay partically due to the condition and partically due to spending a year in a hosp bed but unfortunatly they are no charities i can find that can help other then the family fund that i am looking into at present.

I can assure you i will never go to companies like provident etc i cant believe how much apr is! and they seem to pray on people in my situation but i guess that business and i do understand some people really have no choice but to use them!

I think im going to ring barclays in morning and just ask for some advice requarding my needs and the way i run my account from thier eyes im sure i can do this without submitting an application? Just to see what they say basically i know the way banks have been recently and im defo not going to apply here there and everywhere.

I know it sounds silly but at my age i have got things id like to do later in life like get a mortgage so i can move my kids to better area once im able to work etc and i am so scared of doing damage to my future chances although i do realise im talking quite a few years down the line here! and also because i guess i am the original credit dummy i have never needed credit before so didnt really take much notice of apr and aer etc! so now i do and i dont know anything lol!

Tubbss

Hi
I cant offer any advice on this but can only wish you the best of luck.
If only all people in yours, or a similar situation, were as sensible as you then perhaps more lenders would consider the individual rather than the profile.

ERICS_MUM

Tubbss wrote: »

Hi
I cant offer any advice on this but can only wish you the best of luck.
If only all people in yours, or a similar situation, were as sensible as you then perhaps more lenders would consider the individual rather than the profile.

My thoughts exactly, especially when I saw that you are "only" 22 y/o, a very wise head on young shoulders.

masterlumps

you could hire a man with a van for about £25 to collect things for you if you see any good finds on freecycle