Loans For Bad Credit

Icemoose

Looking for a loan with a reasonable APR that can be repaid via DD and that does not ask up front for money to process my application and for someone to guarentee it.

Does any such company exist.

Need to borrow around £5000 for home improvements and to pay off some small debts.

Icemoose

No recommendations?

jonesMUFCforever

Yes they are called banks and building societies and loan companies.
From your heading how bad is your credit rating?

lisaburton

I manaaged to get a loan with welcome finance. They dont take any money from you up front but spread an arangement fee over the years you pay the loan. I had a really appualing credit score (couldn't even get a provident loan) and got accepted not to sure what the apr is though but for £2000 I was paying £105 a month for 3 years. Word of warning though they try to offer you loads of differant insurances though I think the insurances althogether cost about another £100 a month just tell them you have your own or whatever then they take them off. The loan took about a week to go into my account after i sent the paper work off and the thing i liked with them they kind of guaranteed it over the phone as long as all your details where as you said and you could prove it ie wages, id, etc

Others may not like this company but whilst i used them they gave me the money fast and dealt with me when no other banks or societies would.

hope it helps
Lisa

nomoneytoday

£105 a month is £3780 to be paid back!!

In comparision, the cheapest loans are around £60 a month, APR 6% and £2200 to be paid back...

lisaburton

Yes I am aware of that but with a really bad credit rating you are going to be looking at paying a lot more. All companies aprs etc are subject to status so with me having a bad credit score at the time that is all I was offered. If other people use this company and obviously have a better or worse score there aprs will be differant.

At the time I had no choice I even tried provident and got refused and this was my only answer. I had phoned endless companies who promised to find me a loan as long as I paid £40ish up front first, or phone some premium rate number to get a loan for bad credit scores that is about £1.50 a minute. This was the only company i found at the time to help me out.

raq

lisaburton wrote:

Yes I am aware of that but with a really bad credit rating you are going to be looking at paying a lot more. All companies aprs etc are subject to status so with me having a bad credit score at the time that is all I was offered. If other people use this company and obviously have a better or worse score there aprs will be differant.

At the time I had no choice I even tried provident and got refused and this was my only answer. I had phoned endless companies who promised to find me a loan as long as I paid £40ish up front first, or phone some premium rate number to get a loan for bad credit scores that is about £1.50 a minute. This was the only company i found at the time to help me out.

I agree with you. It is hard knowing there are companies our there offering 6% but when people have POOR credit score we have no chose. When you need the money it's needs must.