poor credit history loans

cwignall

can anyone recomend a good loan company that will accept poor credit rating? (current arrears and over limits)

looking to consolidate £3000. tried money supermarket and awaiting the response to my application.

lynzpower

I dont think you will find anyone willing to lend at decent rates, partly as 3k is quite low and also cos your CR isnt great. Why would you want to borrow 3k when you only owe 2300 ?

Why have you thought of consolidation?

Have yu done an SOA before?

raq

I would like to know this one.

Just had our report and looking into a loan and I would say our report is "fair". Don't want to apply to a loan of companies get knocked back and have a huge dent in our report. How do we go about which company is best suited. I also logged onto the site and two companies came up with 12 - 16 apr.

THE_LONE_RANGER_4

i suggest you do not consolidate , ths will in the end as in most cases results in your debt growing and you being in the same positon you are in now except worse , try and deal with your current debt on a repayment method which you can afford

SunderlandBlackCat

I agree with the Lone Ranger - tackling the cause not the symptoms is the best way forward.

Check out the snowball calculator to find the best way to tackle your current debts.

http://www.whatsthecost.com/snowball.aspx

raq

thanks for this info. Thing is when we do our calculations and although we are living we can only pay our minimum payment every month and never seems to go down. Quite freightening when you look on the snowball caculator as it could take up to 30 years to pay off . Am I doing something wrong ?? Our debt is £13k

lynzpower

raq wrote:

thanks for this info. Thing is when we do our calculations and although we are living we can only pay our minimum payment every month and never seems to go down. Quite freightening when you look on the snowball caculator as it could take up to 30 years to pay off . Am I doing something wrong ?? Our debt is £13k

Raq have you done an SOA before?

We can help if you havent?

michael1983l

only use these as a last resort because their interest rates tend to be phenominal depending on credit worthyness but Blackhorse will always give you a loan. Egg also gave me £5000 a few years ago when my credit rating was at its lowest along with a 3K credit card. That was the downfall of me as well if im honest.

raq

I have done my own soa on my word pad but not actually on this site. I don't think I can cut any more corners. What I;ll do though is action this on the site and go from there.

cheers