Need advice on a small loan ( bad credit )

ChrisCobra

Looking to borrow about 3k to move out of my dads house , i just cant seem to find any companies that seem reputable for a loan.

I'm self employed and earning approx 600 a week but the current living situation is not ideal and affecting the kids.

I can pay a loan back no problem i just need some ideas guys on who is trustworthy and wont rip me off.

Thanks for the help in advance!

gb12345

ChrisCobra wrote: »

Looking to borrow about 3k to move out of my dads house , i just cant seem to find any companies that seem reputable for a loan.

Does this mean that you have applied to a number of places and been turned down? Or are you just confused about who to trust?

ChrisCobra wrote: »

I can pay a loan back no problem i just need some ideas guys on who is trustworthy and wont rip me off.

If you've tried all the mainstream lenders (i.e. the banks) and been turned down - then you are either going to end up getting scammed by brokers/advanced fee scammers or you'll end up with skyhigh interest.

Constant applications will also not be looking good on your credit history - which will count against you.

Also, are you on the register of electors?

ChrisCobra

I've only tried Halifax at the moment , i havent sent out loads of applications

The websites i have seen for bad credit loans are all dodgy as hell and im just a bit lost.

I have to get out of here fast as possible , loan is for deposit and furniture etc.

poppasmurf_bewdley

Firstly, £3k is NOT a small amount. It is a considerable sum, especially if you do not have £3k.

And if you are earning £600 a week, why haven't you got any savings to put towards moving?

DCFC79

Whatever you do don't pay 69.99 for a company/broker to find a loan who then don't find you a loan and you end up 69.99 lighter. Can you not increase what you earn ? Could you afford the repayments with the bills etc at the new place ?

ChrisCobra

poppasmurf_bewdley wrote: »

Firstly, £3k is NOT a small amount. It is a considerable sum, especially if you do not have £3k.

And if you are earning £600 a week, why haven't you got any savings to put towards moving?

I have only just started this new job so no savings , just wondered if anyone knew of any companies that were not rip offs.

ChrisCobra

DCFC79 wrote: »

Whatever you do don't pay 69.99 for a company/broker to find a loan who then don't find you a loan and you end up 69.99 lighter. Can you not increase what you earn ? Could you afford the repayments with the bills etc at the new place ?

Yep i can afford the loan and rent no problems , we already did a budget for that.

Long story short me , the mrs and our 2 kids are in Dads house and we want our own place with our own rules. And so the kids are more comfortable.

DCFC79

ChrisCobra wrote: »

Yep i can afford the loan and rent no problems , we already did a budget for that.

Long story short me , the mrs and our 2 kids are in Dads house and we want our own place with our own rules. And so the kids are more comfortable.

All of the reputable lenders aren't rip offs ( if all you can find are loans with high Apr then maybe that's all your likely to find ), its whether you can get a decent rate of Apr for 3k, don't know of lenders who would offer that amount as all loans start at about 7k.

ChrisCobra

Thanks DCF , sure i remember your name from when i was active on here a few years ago.

I might try my luck with a few banks for 6 or 7k , at least the APR will be much better , i have bad credit due to a loan i didnt pay thats over 6 years ago so thats probably the problem.

Do you know of any loan sites that are legit and work with people with bad credit?

19lottie82

ChrisCobra wrote: »

Do you know of any loan sites that are legit and work with people with bad credit?

What is your perception of "legit"?

If you mean a company that won't break the law, then yes there are plenty.

On the other hand, if you mean one that won't charge a ridiculous level of APR, due to your credit rating, then sorry, but there aren't any.

3k seems a bit steep to be moving into a rented place anyway? How much are local rents in your area?

Can you not knuckle down and make do for a couple of months to save up the bare minimum of what you need for a deposit and first months rent?
TBH unless you can borrow the money from a friend or family member, this may be your only option, as no lender will offer you a loan, unless it's one with an eye watering interest rate.

DCFC79

ChrisCobra wrote: »

I might try my luck with a few banks for 6 or 7k , at least the APR will be much better , i have bad credit due to a loan i didnt pay thats over 6 years ago so thats probably the problem.

Do you know of any loan sites that are legit and work with people with bad credit?

19lottie82 has said what I was going to say so wont bother adding anything else.