My brother is moving house....

MikkyX

...CreditExpert say he has a credit score in the mid 900s - almost perfect. He has an overdraft and credit card with Lloyds which are both being paid off, and is part way into a 3 year repayment plan with Creation (Currys), and an income of about £12k a year.

He's about to move out and needs a washing machine, fridge freezer and cooker. Alas, we cannot afford to pay for these outright so we saved up some deposit money and went to Currys thinking he could get a 3 year repayment plan. Our budgeting said he could afford their repayments - but, despite the previous good standing agreement with the finance company, and his near flawless credit history, he was turned down.

We've considered a personal loan or credit card but if he's just been turned down for credit it is highly unlikely he'd get the £1.5k on either of these that he wants to spend on the new stuff.

Can anyone think of any other way he might be able to get the credit or stuff required before he panics the day before he gets the keys and winds up in somewhere like Brighthouse?

Tixy

Free from Freecycle or freegle? Second hand from local papers, gumtree or even ebay?

Steer very clear of brighthouse. His low income is probably whats preventing him from being accepted and also would count against him try to get a personal loan or card either. But he really doesn't need to spend £1500 on this sort of equipment, suggest he gets second hand for now and then buy new once he has saved up for it. At a push he could possibly manage without a washing machine at all to start and just use a laundrette or possibly a relative/parent if living near enough in the short-term.

MikkyX

I'll post to Freecycle, thanks. Will try a couple of other places too.

Second hand needs money which sadly we don't have - this has all happened very (maybe a bit too) quickly so we've not had chance to save up BEFORE moving day.

Tixy

How much deposit money did he have? is his overdraft totally maxed?
Fridges/freezers often seem to go on the freecycle local to me. Not seen so many cookers - at a push could he manage for a short term with a microwave which he could pick up new for £30 or so?

MikkyX

£200 deposit money, ended up applying for credit on £1.7k so would've used about £170 as deposit. Overdraft is maxed, as is credit card. I've posted on Freecycle now so we'll see how that goes - and he's taking our microwave with him anyway

CLAPTON

how much is his overdraft
how much are his CC debts
how muchs does he owe to curry

MikkyX

I'm not sure how precisely he'd want me to share but suffice to say the total owed to Lloyds runs into five figures, and the total owed to Currys is a few hundred pounds.

telboyo

Buy your stuff from ebay

chalkie99

MikkyX wrote: »

the total owed to Lloyds runs into five figures,

On an income of £12,000 he has no chance of further credit and, frankly, that is just as well, it is crazy to even think of putting himself even further into debt with these figures.

Look at the postcard ads in the local newsagents. There are usually second hand items at good prices.

Emmzi

laundrette is cheaper than washing machine

can live with a microwave for a while

I have friends with NO FREEZER AT ALL! (gasp!)

Devils-Advocate_3

As others have said, get a cheap microwave (they are very cheap if you get a very basic one). Your brother can survive with that and use of a laundrette, and then save for a fridge/freezer.

He'll feel a sense of accomplishment when finally able to make that purchase with his own savings rather than credit