Unsecured bad credit loans?

SeduLOUs

I have 5 creditors, totalling £4700 and am struggling to keep up with charges and whatever else.

I have very poor credit history with defaults but no CCJs and want to borrow £5000 over 3 years to clear all of my debts and have one single monthly repayment. This keeps things simple, avoids charges, and also rebuilds some credit by successfully paying off the loan.

I've already tried my bank who said no, and I don't have a mortgage.

Does anyone know of any reputable lenders who provide loans even at high interest rates to bad credit history?

I have waded through literally hundreds of awful looking websites, most of which have a forum thread on here confirming that they are scams. Surely there must be a few legit lenders out there?

I'm not looking for you to tell me what I should/shouldn't do or who to avoid, I'm asking if anyone knows of any reputable lenders that I might have a chance with.

Thanks in advance,

SeduLOUs

KingElvis

In a nutshell, there are NO lenders out there that would give you this money, none.

KoalaBear_2

No sensible person will give you the money, I'm just curious as to why you would borrow more than you owe, plus interest. Have you tried coming to some sort of arrangement with your creditors?

WRINKLES

The good news is no one will lend you any money , yes you read it right , good news , If some one did lend you this money they would not be doing you any favors , i know you dont want to hear this but you need to talk to your creditors .

backinbusiness

WRINKLES wrote: »

The good news is no one will lend you any money , yes you read it right , good news , If some one did lend you this money they would not be doing you any favors , i know you dont want to hear this but you need to talk to your creditors .

Sorry OP but I have to agree with wrinkles.

The day I hit a brick wall trying to obtain yet more credit was the same day realisation hit, ie my light bulb moment.

I know it's not what you want to hear tho'.

Good luck

bib

SeduLOUs

Thanks guys you're absolutely right, I already know it.

I was just trying to get everything in one place, on one single payment, so I don't keep getting in the place where I pay 2 or 3 and then leave one because I'm short.

I've literally spent hours since making that post doing and redoing a budget I can live by and have finally got myself to a position where I'm overspending each month by £1.93. My gas bill will drop by £100 a month in two months though because I'm paying for old bills so I might actually get myself into the green.

Hopefully the amounts I've proposed to pay my creditors is going to be enough otherwise it's back to the drawing board. The bank account I have is currently accumulating charges at about £180 a month, they won't stop the charges and I've no chance of keeping up. We shall see.

DVardysShadow

SeduLOUs wrote: »

.... The bank account I have is currently accumulating charges at about £180 a month, they won't stop the charges and I've no chance of keeping up. We shall see.

Open a new basic account, not associated with any company you owe money to and transfer all of your income to that account. And keep it clean - no overdrafts. If you don't have money in there, don't pay out of it.

At least you won't be paying transaction charges to the old bank