help im bankrupt

DCFC79

lions67 wrote: »

thanks everyone for your thoughts and advice. somethings i never knew. the thing is i have disclosed my bankruptcy and been offrered 1k over 12 months at 117 a month. the money is to get my car back up and running, so i can get my career back on track

never disclosed your BR to whom

jonsyt

I have a feeling this loan may be another scam that someone is going to fall into , Whats the betting its wentworth or similar wanting an up front fee and no loan will ever be seen . I cant see any legitimate loan company offering a bankruptee or a discharged bankrupt a loan with only £204 interest having to be paid

Apples2

lions67 wrote: »

the thing is i have disclosed my bankruptcy and been offrered 1k over 12 months at 117 a month.

Ahh, someone offering something which simply sounds too good to be true. What can possibly go wrong??

I'll take a punt and say you will be required to give the first months payment via Ukash or Western Union moneygram first.

lions67_2

hi everyone, it seems you all have vast experience in this field. the company is called FLM and they are asking for a guarantor. the total repayable is 1360.35 that includes a 100 brokerage fee. this spread over the 12 months. like apples2 says, sounds to good to be true. its 113 and some pence a month. sounds like its back to the drawing board

poppasmurf_bewdley

lions67 wrote: »

hi everyone, it seems you all have vast experience in this field. the company is called FLM and they are asking for a guarantor. the total repayable is 1360.35 that includes a 100 brokerage fee. this spread over the 12 months. like apples2 says, sounds to good to be true. its 113 and some pence a month. sounds like its back to the drawing board

Transpose the name of the company, and if you sign up you will be saying FML rather than FLM!

pauletruth

did you not listern you can't borrow a 1000 whilst still bankrupt. who in their right mind would go guarantor for you. just except the reason your broke is that your not good with money. the very worst thing for you to do its get more debt. use this time to get yourself some control or you will never be free of debt.

nomoneytoday

lions67 wrote: »

and they are asking for a guarantor.

There in lies the answer...

dealer_wins

Is this for real. Bankrupt needs to borrow. Made me laugh anyway!!!

paddyrg

I think you may be about to find out what 'asking for a guarantor' really means. In effect, it means they're prepared to lend the guarantor £1000 at a high rate of interest, but give the cash to you. Then if you are late paying/don't pay, they will go straight to the guarantor to collect (most likely) the full loan amount plus charges.

In short, getting a guarantor to guarantee your loan is in no way better (and in most ways worse) than asking the guarantor to just lend you £1000 - their risks are lower lending you the cash directly, and if things go wrong being a guarantor will cost them more than the grand it'd cost if they lent direct.

Tixy

If you can find a guarantor - then simply ask them to give you £1000 of their own money or ask them to borrow the money and gift it to you. This is the same for them as guarantoring a loan for you.

If you don't have someone willing to give you £1000 then you don't have a guarantor for FLM.

I'd suggest you rethink altogether - if you could say what you needed the money for urgently perhaps people on here could come up with some alternatives/suggestions so you didn't need to borrow.