Bad Credit Rating - Secured Loan

wemon

from reading the posting on here. You get some good advice..

I need a personal loan of £7k but its tough trying to find a loan provider with decent interests.. am in full-time employment for the past 3 years and can use £9k worth of share in a uk bank as a security..

i need some direction and advice on two fronts

Can I get a secured loan with a bad credit history without the high interest-rates ?

Also can I use shares in a plc as security for that dedt?

Any advice would be most welcome... thank you

BugsyBrowne

Unfortuantly your not going to get the same interest rates as someone who has a proven track record of paying debt back on time, it's common knowledge this won't happen.

People get bored of me saying this but go in and talk to someone in your Own bank.

Shares for security I haven't got a clue what your on about there sorry mate.

DCFC79

wemon wrote: »

from reading the posting on here. You get some good advice..

I need a personal loan of £7k but its tough trying to find a loan provider with decent interests.. am in full-time employment for the past 3 years and can use £9k worth of share in a uk bank as a security..

i need some direction and advice on two fronts

Can I get a secured loan with a bad credit history without the high interest-rates ?

Also can I use shares in a plc as security for that dedt?

Any advice would be most welcome... thank you

If you have 9k worth in shares then why dont you use them ? (seems logical to me)

Do you really think a lender is going to take a punt on you ? when you have a history of missing repayments or something else which led to the bad credit history.

BugsyBrowne wrote: »

Unfortuantly your not going to get the same interest rates as someone who has a proven track record of paying debt back on time, it's common knowledge this won't happen.

People get bored of me saying this but go in and talk to someone in your Own bank.

Shares for security I haven't got a clue what your on about there sorry mate.

I think the OP means to use the shares he has as a form of security

blitzboy

wemon wrote: »

I need a personal loan of £7k but its tough trying to find a loan provider with decent interests.. am in full-time employment for the past 3 years and can use £9k worth of share in a uk bank as a security..

Cant you just sell £7k worth of the shares?

That way you wont need a loan and wont pay out any interest

Johnymarsh

Well as if you are having a bad history then it is little bit difficult but you can talk to bank which you are interested in for loan and ask them for the shares as security against your loan.Another way is you can simply sale your shares.

Tixy

...edit, removed my post - very old thread resurrected for no purpose