Unsecured Personal Loans - CCJ

Hard_Up_2

Hello Everyone,

I am in need of some advice and guidance as to whether anybody is aware of loan providers that are best for people with bad credit history.

Around 5 years ago, I lost my employment which was incredibly well-paid as a result of which I fell behind on a number of loans and credit cards and Barclays obtained a judgment against me for an overdraft of £3000 which remains unsatisfied.

My situation now is considerably changed and much better financially. I am earning £26000 pa and this is likely to increase in the nxt couple of months to £30000. All other creditors are being paid albeit some are still on reduced payments. I do not own my own home and am renting privately.

I need the loan to consolidate my debts and pay my ex-partner back who supported me financially through my unemployed period.

Does anyone know of any lenders that will take my financial situation now and not be too hung up on the bad credit rating I acquired through unemployment?

Any help/guidance would be appreciated.

Many thanks in advance

BoGoF

How much are you looking to borrow?

In all honesty you will find it difficult to get anything and if you do the APR is likely to be extremely high. You have an unsatisfied CCJ and are still paying reduced payments to your creditors.

Any lender will not see it as replacing existing borrowing but additional borrowing as there is no guarantee you will use the funds to consolidate.

Hard_Up_2

I realise it may be difficult but am desperate to payback so I can sort my credit files out etc.

I would be looking to borrow around £10k

thanks for your advice

BoGoF

What do your currently owe, apart from the ex?

Hard_Up_2

Around 15K

BoGoF

Just can't see it happening. As I said earlier the bank will look at this as adding to your existing borrowing so that would take your total potential debt to £25,000. Not going to happen on a £26k salary - sorry!

Hard_Up_2

Thanks for your advice!

dealer_wins

Best thing (now that you have found a high paying job) would be to live frugally for as long as it takes to pay off all the debts.

Then you can kiss goodbye to being a loan slave forever hopefully!!

Hard_Up_2

Ha Ha,

yes I hope that day is close by!

many thanks

maginot

As it was 5 years ago, you only have another 12 months before it falls off you credit file.

However you have very little chance of being able to borrow £15k with a CCJ on your report, (possibly a smaller amount at a high interest) the whole reason firms go through the trouble of taking someone to court is as a serious consequence and so people would try to avoid it.
I know it's late now, but for others reading this it would be good idea to eBay or try to borrow off friends and family, as for £3k a CCJ should be avoided.

Why is it still unsatisfied if you are earning a good salary now? Do you have any type of insurance to cover debts in case you lose your job?