Loan of 2k?

myright

Need a small loan for about £1-2K

What are the best options? would be repayed within 2 months.

What kind of interests would I be looking to pay?

BugsyBrowne

myright wrote: »

Need a small loan for about £1-2K

What are the best options? would be repayed within 2 months.

What kind of interests would I be looking to pay?

You won't get one as you have defaults and a CCJ.

McKneff

Even if you didnt have defaults and a CCJ you would have difficulty.

Banks dont make enough money with transactions like this.

As it is, yu have no chance.

myright

i'm sorry, guys it's for my friend ( we all use the same account). he has now ccjs or defaults.

camuk81

If you can obtain credit an overdraft or cash advance may be cheaper then a loan, as a rule of thumb you are unlikely to get a loan for such a short period

myright

how do overdrafts work? do you need to pay interest on that and how does that work?

and also why is it difficult to get a short term loan? what difference does it make to the bank if my friend pays it off early?

bouncydog1

myright wrote: »

i'm sorry, guys it's for my friend ( we all use the same account). he has now ccjs or defaults.

And if the account is in joint names you're all tarred with the same brush so to speak - if he has ccjs you're linked to him by virtue of the account and if you have the ccj's he's linked to you.

If you are all using one account set up in one person's name then the bank will take a very dim view of this and probably close it.

Mara69

bouncyd!!! wrote: »

If you are all using one account set up in one person's name then the bank will take a very dim view of this and probably close it.

I thought they meant one account on MSE

iolanthe07

he has now ccjs or defaults.

I think this may be a typo. Does myright mean 'he has no ccjs or defaults'?

camuk81

My right, If you got the overdraft then you would have to pay an arrangement fee and the debit interest you will have to refer to the bank T&C's for this.

The alternative he could get a credit acrd and get a cash advance pay the fee and debit interest.

However someone has pointed out something, do you have the same MSE account or the same bank account. If its the same bank account and you are finically linked then this may impact on his ability to obtain credit