Could I get a joint loan with CCJ?

james140101

Hey Guys,

I'm wondering if I could get a joint loan with my Grandmother. I have multiple CCJ's and she has an outstanding credit score.

I know FLM offer guarantor loans but I'm looking for around £15,000 for a business venture while they only offer £3000.

Thanks

CH27

No reputable lender will entertain you.

MrsTinks

Please please please think carefully about doing this even if they let you... can your gran afford £15k? If your business venture fails they will pursue either or both for the full amount... If they don't think you'll cough up then they will go after her for the full £15k plus any fees etc... and that can include CCJs and bailiffs etc...
Get your CCJ paid off and improve your credit file and then get the loan in your own name

james140101

CH27 wrote: »

No reputable lender will entertain you.

I thought as much. I have cleared all my debt recently when I came into some money but sadly you learn the hard way.

james140101

MrsTine wrote: »

Please please please think carefully about doing this even if they let you... can your gran afford £15k? If your business venture fails they will pursue either or both for the full amount... If they don't think you'll cough up then they will go after her for the full £15k plus any fees etc... and that can include CCJs and bailiffs etc...
Get your CCJ paid off and improve your credit file and then get the loan in your own name

I know what you are saying and I totally appreciate the view. Maybe seeking investors would be more appropriate?

I know BBAA can be helpful. After all if an investor won't invest then is a loan such a good idea?

KingElvis

No chance I'm afraid.

RichGold

Your Gran has an outstanding credit score due to being smart with her money.

Don't drag her into your problems.

chalkie99

And this is in addition to the 10k you were given a few weeks ago? :eek:

Seriously, you are 21 and have shown you cannot handle money. Please don't think you can just run a business and certainly don't drag your grandmother into it.

skintandscared_2

Can't you manage with the few £k you must have left from the £10k you were given, even after paying your debts?

Please learn from your grandmother's clever financing and follow HER lead, don't drag her into your financial incompetence

Enfieldian

Try Dragons' Den.....

Emmzi

go run your business plan by a bank manager. or your local enterprise trust may have advisers. Just to get an ides of how sound it is.

If you love your gran, leave her alone.