Which lenders are lending money??

DCFC79

I get the feeling the OP has an ideal reply he was expecting and so far it hasn't appeared but i live in hope it will come.

In reply to the thread title, the lenders who are lending are those who lend to the right customers/applicants because they can afford the repayments.

rodders1664

Things look pretty tuff for and to be honest some of what others have said is true, but the only other thing you could try if you havent already is to refinance you bank loan as you are over half way through they should be able to refinance and then i think maybe you should slowly pay off the cc and close the accounts one by one this will propberly save you alot of money in the long term.

moatmeister

Looks like we just have to knuckle down and work it through then! Wasnt looking for the perfect answer, just some suggestions and options

I know a bit about noddle. Are there any down sides to it? Selling off your details, marketing calls, unrequested credit checks etc???

I had considered trying to restructure the Santander bank loan as a short term option but that would impact on my credit file which is what I was trying to avoid for the time being to improve things for the long term as soon as possible.

jamesd

The downside is a monthly email. You can probably opt out or turn it off. Nothing that's bothered me.

moatmeister

Building Society have looked into incorrectly applied late payment marker and agreed to remove it. Excellent!

KingElvis

You both sound like a financial disaster on a short fuse, if you lumber yourselves with more debt (unlikely due to your massive debts already) then implosion is imminent......

moatmeister

Fair comment but as I said previously, if HSBC had come good with a reasonable business loan or overdraft package instead ofan instant decline for my established Ltd company I wouldnt have had to use personal lending to support my fully planned business expansion and thus my personal credit file would be in a better shape

somethingcorporate

moatmeister wrote: »

Fair comment but as I said previously, if HSBC had come good with a reasonable business loan or overdraft package instead ofan instant decline for my established Ltd company I wouldnt have had to use personal lending to support my fully planned business expansion and thus my personal credit file would be in a better shape

Unfortunately your expectations are unrealistic. I work with a lot of small businesses with turnovers in the millions and profits in the hundreds of thousands, established for a good few years and even their directors have to give personal guarantees to lending against the business. This is currently the way of the world and unlikely to be just your bank - blaming them is shifting it away from yourself unfairly. You took the risk and now it looks like it is starting to backfire.

I echo the majority of the rest of the comments, you are massively over-exposed. Any further applications for credit or restructuring of debt will impact your credit file as no doubt there will be further searches. I'd look for other options if I were you or start working through your plan B list. A lender that would lend you money would be no doubt have incredibly high rates due to your risk level and will do you no favours.

moatmeister

Cheers.

But a personal guarantee for the business, which I was more than happy to give them, is not the same as personal borrowing in terms of the affect on my personal credit report though is it?

MonkeyMad

moatmeister wrote: »

@Monkey mad..
????????? What on earth are you on about?

Personal lending for a business is not normally a particularly positive thing. I'm suggesting you are embarking on a business venture that is so secure that your own bank knowing you as an established company wouldn't lend you money for it (although it does seem you say this venture is nothing to do with your blue-chip related business so why you think the business bank would be interested in this 'personal venture, your words,is a mystery). Given that why would you imagine any other bank would do it on a personal level?