Need a loan but on benefits

DiscoDoctor

Hi guys i need some help. I was offered a loan by welcome of £2000- but i would like to get a loan of £5000, but the snag is i am on benefits and i have a bad rating on credit but it is nothing to do with me. please can someone help

the money is needed to pay off scottish power and buy a new PC.. oh and possibly a short holiday.

Thanks

Disco

Idiophreak

What benefits are you getting?

Morty_007

For what it's worth......DON'T GET A LOAN
If you already have bad credit then they will hang you for interest and you will end up seriously in debt. Companies don't loan you money for your benefit, they loan it to you for theirs.

This is going to sound a bit harsh, but you know what they say about being cruel to be kind? Bear that in mind....

You don't NEED a holiday, and you definately don't need one paid for at 30% interest!! This is a luxury, sorry, but it is.

Do you REALLY need a new PC? could you get by for a couple of months/years using the one you are using?

And you should be able to contact Scottish Power and agree a payment plan that you can afford on you current income and does NOT mean you need a loan.

I know £5000 doesn't seem like much but you could end up paying back £10000 once you have paid interest on a high rate loan (which is probably all you will get with your credit rating)

There is SO much advice in these message boards about cutting down your costs to make life more affordable. have a good browse and see if you can get by without having to sell your soul.


I wish someone had said all these things to me 10 years ago...

joeblack066

Echo Morty, good advice there.

Voyager2002

See if you can join your local Freecycle: you could probably get an old but working PC like that, for free.

Please take advice (CAB or whatever) about Scottish Power: a loan to pay them would be a disastrous mistake.

susy_2

Mmmmmmmmmm

katepnlo

out of curiosity...how is your bad credit rating nothing to do with you??
kate

Morty_007

by the looks of a post on another thread, the OP thinks his/her credit rating is down to the previous occupiers of their current address.

OP:
Have you tried contacting Experian and the other credit comapnies and setting the record straight as to what is your debt and what has nothing to do with you?

Jim_B_3

Here are some reviews of Welcome Finance.

http://www.cambridgeonline.co.uk/reviewcategories/Financial_Services__Loans/

Here's one I really like.

http://www.ciao.co.uk/Welcome_Financial_Services_WFS__Review_5636994

shakerbaby

Hmmmm I smell fresh troll meat.

xgingerx

hi my sister claims benefits, she is single and has 2 children, dont know what is is called but she regulary gets a loan from the dole, and they take it off her allowances interest free as well !!! she told me she has had upto 900 pounds and when it comes to the end of paying that they renew it with no problems.

I cant get hold of her now as she is away but id speak to the benefits office, this way you get some spending money interest free and taken off your benefits before it even goes in your hand so easy to manage.

Dont know if this is helpful or not but just thought i woulkd share it with you incase