New! Looking for a loan on benefits

toonafish

Hi Everyone

I'm wondering if anyone can help me. I want to borrow £5k - £7k to pay off a large overdraft that is now being charged at £1 per day. And also to buy a cheapish car and do some home improvements

My husband works but has bad credit history so I was going to apply on my own. I'm on long term benefits and wondered if anyone would look at me for a loan without a guarantor? I have really good credit history.

I have a company looking for me but I think they are just messing me around and I gave them my bank details so they could take a fee if they found me a loan. I think it may be a scam.

Any help much appreciated. x

ILW

They will probably take a fee even if they do not find you a loan.

toonafish

Oh no, I have just checked my bank and they have taken the money, and they have messaged me to say they cann ot find me a loan. Im gutted £60. They told me they would only take it once they had found me a lender. Im so stupid. argh. thanks for the reply xx

KingElvis

toonafish wrote: »

I think it may be a scam.

I don't think "may be" will come into it, they will take their fee and then probably take it again.

All's not lost, read their website carefully and there will be a part where you can claim most of that fee back

triticale

OP, there are many threads on claiming broker fees back (minus £5 they are allowed to keep) follow the instructions on one of the threads to write to them.

DO NOT phone them, you'll only give them more money through the calls and be messed about until you end up having to write anyway. Make you you post anything recorded delivery.

Before you pay anything else or sign something you'll regret, I strongly suggest posting over on the Debt Free Wannabe section of the forum.

If you explain your current situation and put up your Statement of Affairs (SOA) showing all you incoming, outgoings and debts, someone there will be able to make suggestions to help.

Best of luck, think carefully before getting into any kind of debt, it's so much easier to get into than out of (speaking from bitter experience!)

McKneff

toonafish wrote: »

Oh no, I have just checked my bank and they have taken the money, and they have messaged me to say they cann ot find me a loan. Im gutted £60. They told me they would only take it once they had found me a lender. Im so stupid. argh. thanks for the reply xx

If you gave them bank details, ring the bank, tell them you have lost your card and they will cancel it., they will supply yu with another one and the company cant take any more money from your lost card details.

beanielou

Have you considered a credit union?

jonesMUFCforever

Stop looking - if you are on benefits no mainstream lender will give you a second thought on a loan of that amount.
You can use a personal loan calculator on the net though to work out how much a loan would cost you per month - you could then use that amount to reduce your overdraft on a nonthly basis.
I'm afraid that is as good as it gets.

Blitz01

toonafish wrote: »

Hi Everyone

I'm wondering if anyone can help me. I want to borrow £5k - £7k to pay off a large overdraft that is now being charged at £1 per day. And also to buy a cheapish car and do some home improvements

My husband works but has bad credit history so I was going to apply on my own. I'm on long term benefits and wondered if anyone would look at me for a loan without a guarantor? I have really good credit history.

I have a company looking for me but I think they are just messing me around and I gave them my bank details so they could take a fee if they found me a loan. I think it may be a scam.

Any help much appreciated. x

Credit is difficult to come by even for those of us with a good credit rating.

Why on earth do you think any financial institution would lend:
1. To your husband with a bad rating
or
2. To someone on benefits (especially long term)

Even by a 1000000000000 to 1 chance you found a lender, borrowing is not the way to get out of debt.

BugsyBrowne

toonafish wrote: »

Hi Everyone

I'm wondering if anyone can help me. I want to borrow £5k - £7k to pay off a large overdraft that is now being charged at £1 per day. And also to buy a cheapish car and do some home improvements

My husband works but has bad credit history so I was going to apply on my own. I'm on long term benefits and wondered if anyone would look at me for a loan without a guarantor? I have really good credit history.

I have a company looking for me but I think they are just messing me around and I gave them my bank details so they could take a fee if they found me a loan. I think it may be a scam.

Any help much appreciated. x

I know some people who earn 3 times as much as me on benefits.

Stuart_W

star-fire wrote: »

I know some people who earn 3 times as much as me on benefits.

Don't think that's the correct use of the word earn.

Contact your local credit union, not necessarily for a loan, but for free debt management advice, they can often be very helpful and honest.