Trying to get a loan after bankruptcy

BugsyBrowne

dmg24 wrote: »

The problem is that the OP clearly has not learned from her mistakes. Borrowing money for non essentials is how people get in a big old mess.

Agreed,but let her learn by her mistakes, lets just hope the OP pay back the money on their non essentials because going through life knowing that your a high credit risk defiantly can have a impact.

kareliray

I have learned from our unfortunate past but that doesn't mean I have to go through life not living like other people do - I wasn't asking for a lot and I know I can easily pay it off.

I have decided to do what an earlier post suggested and give the monthly money I can afford to my daughter for her wedding, so will NOT BE GETTING A LOAN - so please can people stop bashing me - it does hurt my feelings and I only asked because I thought this site might be full of helpful people - as I said before I won't be using it again.

Mags_cat

kareliray wrote: »

one little mistake and I seem to be painted as a really bad person

Going bankrupt is never "one little mistake". It's a huge decision, often taken after years of financial misery and probably exacerabated by things outside the bankruptee's choice - like redundancy. But it's also a huge relief.

It has massive repercussions, though - and it should. No-one who's been bankrupt shoud, in my opinion, be able to get credit again until *well after* they have been discharged. I don't have the experience to suggest how long *well after* should be, but were i in that position I'd be damn wary of seeking any credit at all.

kareliray

Mags_cat wrote: »

Going bankrupt is never "one little mistake". It's a huge decision, often taken after years of financial misery and probably exacerabated by things outside the bankruptee's choice - like redundancy. But it's also a huge relief.

It has massive repercussions, though - and it should. No-one who's been bankrupt shoud, in my opinion, be able to get credit again until *well after* they have been discharged. I don't have the experience to suggest how long *well after* should be, but were i in that position I'd be damn wary of seeking any credit at all.

It wasn't years of financial misery - it was 2 people (husband and wife) who both got made redundant at the same time with one mortgage and one credit card. We were advised to go bankrupt by a financial adviser and so we did. Yes it was a huge relief to not have to worry about being repossed and made homeless - we were able to privately rent and have been totally debt free for the last 4 years. This is the first time I have even considered getting a loan and thought after getting a credit card (albeit a low credit limit) for paying for things online (and before anyone says anything this is paid in full every month) I thought getting a small loan would not be a problem - obviously it is and I am therefore not going down the route of high interest rate loans as I'm not stupid enough to pay con artists loads of money just for a small amount. I am also not intent on getting into debt for any reason - although I expect a lot of you have credit cards with £5000 limits - I know we used to but I have no intention on trying to get my credit card limit raised either.

It would appear a lot of people have lots of things to say when they don't actually have all the facts - shame really - if anyone had bothered to ask me before they gave me grief I would have gladly told them.

Its-A-New-Age-Thing

kareliray wrote: »

I have learned from our unfortunate past but that doesn't mean I have to go through life not living like other people do - I wasn't asking for a lot and I know I can easily pay it off.

I have decided to do what an earlier post suggested and give the monthly money I can afford to my daughter for her wedding, so will NOT BE GETTING A LOAN - so please can people stop bashing me - it does hurt my feelings and I only asked because I thought this site might be full of helpful people - as I said before I won't be using it again.

Hiya it is a GOOD site and a LOT of people will give u grief, lots of self-rigteous people use this, however lots of these self-righteous people can on the flip side be very wise people, its more a case of when people are "people bashing" its that they have just seen FAR to many people in the same situations asking the same things and it "winds them up a bit", what i find is people who are accused of "people bashing" tend to have the SAME views as the people who are given credit for NOT people bashin, the later just havin an ability to have a little more TACT with there responces lol

:A

BadgerFace_2

You've come on here, asked for some advice and been knocked down by a lot of people on here; whether or not you are solely responsible for losing the £200 billion the banks did (which some people seem to think you are!) is for another thread.

Anyway, you've had some useful advice which you've taken and that's what this site is about. You've just saved yourself hundreds in interest payments and are not in debt, which is why you came on here in the first place, so if I were you, I'd be very happy...and ignore the people who hold you responsible for the recession, 'cause we all are.

angela90

I think tact is extremely important on a site where whatever our situation we're trying to make what we have work a bit harder. The tone of many of the replies is unfortunate at best and just plain nasty at worst. The OP asked a question that the majority of the posts do not attempt to answer. On that basis I think want to judge ple who want should post elsewhere.

OP, I married 6 years ago myself, expensively enough with parents contributing £6,000 to a total bill of £15,000. I did my best to keep costs down but had a guest list of 150 (parents guests mostly).

On the initial question, try a credit union. If you save with them then you will be able to borrow twice what you have in savings which would help. I also think the idea of giving your daughter £300 per month is a fantastic one and rather than borrowing, you could pay her £300 per monh for the year after the wedding which I am sure might work for her.

I really would second what other people say about using your MSexpertise to advantage. Some aspects of weddings are often needlessly expensive and can be overcome. I'll give you my costsavers:
cars - get people you know with nice cars to supply the wedding transport (sounds cheap but in retrospect transport is a very unimportant part of the day)

cakes- marks and spencer - the hotel will supply the stand and use the bridal party flowers to decorate

favours - get net favour bags on the net. I filled mine with miniauture liqueurs and brought them to my venue at the last minute with my placecards attached to them. said I was told it was ok and they let me put them on the tables.

wedding gear - bought the dress of my dreams from pronuptia. they then wanted £200 for the veil. The veil material cost me £10 and my dressmaker (who was making the brideasmaid dresses) charged £10.

hope this helps.

Mags_cat

kareliray wrote: »

It would appear a lot of people have lots of things to say when they don't actually have all the facts - shame really - if anyone had bothered to ask me before they gave me grief I would have gladly told them.

If there were two of you with jobs then, in my opinion, you should have been planning for the possibility of neither of you having jobs. It's what I've done since I was soley responsible for my own upkeep. I appreciate that I'm in a lucky position - I'm well paid and I don't have a partner or children, but I plan to make sure that I have a contingency fund to get me through a period of unemployment without benefits. Currently I'm running at 18 months.

I also have very close knowledge of people who have gone bankrupt. Relatives, and also some friends. It hasn't been a spur of the moment decision - and it shouldn't be! - it's a bloody difficult thing that affects all aspects of those peoples' lives.

All I was saying was that thinking about getting credit after being bankrupted was something that *to me* was wrong.

If that offends you then I'm sorry. You're right *I* haven't been in that position.

Tixy

Kareliray - if you are still reading, and I hope you are, it might be worth you and your daughter taking a look at this part of the forums Weddings & Anniversaries . The MSE forums are mostly a helpful and friendly place and that board might be a good one for you to take a look at.

Hopefully you'll find lots of money saving tips for her wedding and that, along with the monthly contribution you intend to help her with, should help you both plan a great wedding for her.

bouncydog1

One of the nicest weddings I went to involved the help of the bride and grooms friends - hand made invitations, orders of service - another friend made the cake and another made the dress. Not suggesting that your daughter should cut corners everywhere as she wants a special day, but some of the "corner cutting" was much nicer than shop bought products.

That enabled the couple to spend a little more on a brilliant honeymoon in Thailand (which they deferred by a few weeks to take advantage of a 3 week for 2 offer)!