Loan company for a tenant with bad credit history

hmassietaylor

Hi,

I am 20 years old, live with my parents and currently have a bad credit history, I am looking for a loan of about £5000 to clear my credit cards and have a little extra cash. The only options I seem to be able to find are stupid brokers, who by looking at other forums are a waste of time and money.

Does anyone know of any companies that would lend to my criteria?

Cheers

Rafter

I think you have answered your own question.

No mainstream lender is going to touch you based on a poor history.

Your best option is to pop over to the debt free wannabe board. Post what you owe, to who, what rates you are paying, what you are spending and earning each month and take their advice.

A bit of money dieting and prioritising who you pay will probably get you back on track. Taking out a big loan and filling up your credit cards again is more likely to lead to more debt - sorry.

R.

jonesMUFCforever

The thing that really sticks out from your post is '' have a little extra cash''.
You have not learned anything and at 20 already in debt and in financial difficulties.

You need to take a long hard look at yourself - cut down on your outgings and spend more of your income to reduce debt.

Your idea of consolidation IMO is a non starter and will continue so until you get that 'lightbulb' moment which says I want the bank to work for me and not I have to work to pay the bank.