Loan with 'fair' credit profile

Debbiecatal

Hi can anyone advise me? I had some very difficult credit problems a few years ago, and I am slowly rebuilding my credit profile. I don't have any debts any more other than a car loan, and I pay off my credit card in full every month. I have repaid all the problem debt and I checked my credit file today. It said I had a 'fair' profile and my score was 783.

My daughter is getting married in September and we have been sorting out paying for it without any loans, but we had been promised £2000 by the other parents, which due to their circumstances changing, is not now happening. We are on track to pay everything we had agreed to, but don't have an extra £2000 to play with, and neither does my daughter. My income has much improved over the past two years and I can easily afford to pay £100 - £150 per month for a loan.

I don't want to approach several loan companies as repeated searches will adversely affect my credit score, but I don't know what is a reputable company that might be prepared to lend to me.

Can anyone help, or does anyone have another suggestion? We have already cut costs as low as we can, so there is little room for maneouvre there.

Thanks a lot

bigadaj

Always recommended to try the bank you have your current account with as they are most likely to accept you.

CLAPTON

overdraft?

credit cards?

what exactly is showing on your credit records?

Debbiecatal

The bank have turned me down, I am with Natwest, and they won't give me an overdraft either. I only have 1 credit card with a £1000 limit, but that would be expensive to use to fund this, but may be my only option. I have 3 old defaults on my file, the most recent 3.5 years ago, and they have all now been paid off and say satisfied. Everything else on my file says satisfactory.

Not sure where to go, I am scared of being ripped off by a scam company.

Apples2

Sounds like you are in the same position the other Parents are, but they have already made the only sensible decision.

With Defaults on your file, even if you did manage to obtain a loan, it would come with a horrific interest rate. If you did find £2k, you would actually be paying nearer £4k.

The sensible option is to shave £2k off the cost of the wedding.

henm2

With prime lenders such as banks then you will usually be knocked back if you have any defaults showing on the credit check in the last 6 years even if settled.

You might have to try the likes of Provident Financial and similar sub prime as per link http://loans.loanfinder.co.uk/loans/Subprime-Loans

geoffky

Do the wedding cheaper...as a couple we never asked our parents for a penny as we both knew that doing so would of put financial pressure on them so we just saved and when we had enough money saved announced we were getting married...

This is how it should be done unless your parents are loaded..2k cutbacks will not be noticed if you sit down and re jig some costs..

Wutang_2

BugsyBrowne wrote: »

A credit search can go back 6 years and with 3 defaults on your file even your bank won't give you an overdraft so the chances of you getting a Loan is 0%. End of...

End of what?

bankhater_1965

Debbiecatal wrote: »

The bank have turned me down, I am with Natwest, and they won't give me an overdraft either. I only have 1 credit card with a £1000 limit, but that would be expensive to use to fund this, but may be my only option. I have 3 old defaults on my file, the most recent 3.5 years ago, and they have all now been paid off and say satisfied. Everything else on my file says satisfactory.

Not sure where to go, I am scared of being ripped off by a scam company.

they have turned you down because its iresponsible lending and dont want you to get into an unmanagable debt again

DCFC79

No need to spend huge amounts on a wedding,

BugsyBrowne

Wutang wrote: »

End of what?

You a policeman?