Loans for bad credit rating.

lindylou_26

Hi there, Does anyone know of a company who are loaning money to people with poor credit ratings? Hopefully a company who will not charge a high interest rate! :hello:

Tixy

Very few genuine companies will lend to people with a poor credit history.

But it might help if you could tell us what you mean by a poor credit rating - what is on your credit file? any defaults? any CCJs? lots of missed payments? what else?

And also tell us how much you want to borrow, how soon you can afford to pay back and whether you are currently employed.

BugsyBrowne

lindylou_26 wrote: »

Hi there, Does anyone know of a company who are loaning money to people with poor credit ratings? Hopefully a company who will not charge a high interest rate! :hello:

So you are asking if there is a company who is going to lend you money at not a high interest rate where in the past you have proved you can't pay back what you borrowed,therefore ended up with poor credit rating.

Read that back to yourself and I think you will come up with what the correct answer will be!

lindylou_26

star-fire wrote: »

So you are asking if there is a company who is going to lend you money at not a high interest rate where in the past you have proved you can't pay back what you borrowed,therefore ended up with poor credit rating.

Read that back to yourself and I think you will come up with what the correct answer will be!

Thanks for your snide remark! Firstly buying a house with my sister damaged my credit rating and then with her not paying the mortgage on time so not all my fault. Also if you're going to reply to things on here maybe be a little kinder than leaving them sort of comments.

lindylou_26

Yes late payments but not all my fault, I own a house with my sister who at the time had poor credit rating and when we became linked it has affected me. No defaults and no CCJ's. She's also missed payments and so now im suffering for that. Big mistake buying a house but with hard times with the banks it's worrying me.
As for paying it back I want to spend 5 years paying it back, 10k loan to finish a house project and pay a balance of a credit card off.

BugsyBrowne

lindylou_26 wrote: »

Thanks for your snide remark! Firstly buying a house with my sister damaged my credit rating and then with her not paying the mortgage on time so not all my fault. Also if you're going to reply to things on here maybe be a little kinder than leaving them sort of comments.

I understand what your saying, but my reply to your post is based on how a lender is going to see it.

A small majority of people have ended up with bad credit with no fault of their own,but lenders don't care in there eyes you either pass their credit score or you don't.

Tixy

If its just one or 2 missed/late payments then it probably wouldn't be a major issue (assuming you passed all their other criteria such as affordability). Although if you are still linked to sister and she has more than missed payments on file then your chances of a loan will probably be slim.

Have you tried your own bank? If they won't lend then its unlikely anyone else will be willing to lend that sort of amount.

ravaro

I mentioned a pension-backed loan that doesnt require a credit check on here a few weeks ago and got shot to pieces for my trouble. If that was to be of interest PM me and I will let you know who i dealt with.