Loans for bad credit?

Lizzye

Can anyone suggest any decent (ie non criminally high apr) loan companies out there for people with bad credit and no guarantor?

My landlady has just given us notice to quit as she's decided to sell, so we have two month to find fee, deposit and months rent along with paying the rent here.

Ironically my partner, who has the defaults, has checked his Experian report and all his defaults expire in July this year. Unfortunately too late for us.

He's on a good wage so renting isn't an issue and we are not on any benefits or tax credits but we don't have enough that quickly to move out.

My landlady a husband is not a very nice man and is likely to cause a stink of epic proportions if we try and squat etc and we have two young children, so I'm not prepared to do that to them.

Any help would be greatly appreciated :-)

19lottie82

Can anyone suggest any decent (ie non criminally high apr) loan companies out there for people with bad credit and no guarantor?

They don't exist I'm afraid!

If your husband earns a decent wage and has been handling his finances well for a while, then the best place to try would be your own bank for a loan or authorsed overdraft.

Tixy

How much are you looking to borrow? have you worked out what the minimum you would need is? How long will it take you to pay back? or how much can you afford to repay a month?

Have you tried applying to your own bank?

What exactly is on your credit file? Are you working? Are you financially associated with your partner on your credit files?

Are husband's defaults all showing as satisfied? or are they unpaid?

joanne79

Have you had a look locally see if you have a credit union ?

joanne79

http://www.usal.org.uk/content.asp?section=6

joanne79

Hope that's the right area for you...good luck hope you get sorted :-)

Lizzye

He has had no problems or been over drawn with his account in years, he has a credit card but can't get a loan because of these defaults and he has a huge overdraft as he a post graduate so can't really up that anymore.

We have our own accounts, I don't work, I'm a full time mum at home, as it were. My credit is ok, as far as I know I have no defaults.

We only need to borrow £2000 over a year, it's very frustrating. Wouldn't have been an issue if we had more than two months to find it in.

Tixy

You say he has not been overdrawn for years, but that he has a huge overdraft - can he not just some of the available overdraft?
Or do you mean he is using all his overdraft facility but has just not gone in to an unauthorised overdraft in years?

Do you have a deposit you will get back from your current property?

Lizzye

Yes he is into his overdraft and he has been paying off 100 a month to take it down, so yes, I guess he is overdrawn in that affect. What I meant was he's never bounced a direct debit etc, that sort of over drawn..

Deposit will be given the day we move out, the new landlord will want it before then..

Tixy

Are husband's defaults all showing as satisfied? or are they unpaid?
How much are his total debts? and how much does he earn?

Of the £2000 you need - if you cut back on all non essentials for the next 2months and live very frugally how much could you save towards the £2k?

How much will the returned deposit be? (that could presumably could pay a chunk off the debt rather than spreading it all over a whole year).

You say husband has a credit card - is that maxed? if not what is the available credit on that?

iolanthe07

Perhaps parents/grandparents or other family members could help? I helped my daughter out in very similar circumstances, though I am by no means wealthy!