Bad credit - loan advice

Cka

Hi just some advice... Not critisism I applied with Lloyds online for a small loan (for personal reasons I need it) and was declined.. Although I have recently finished paying off a large loan with them..
I checked my credit score which was classed as low.. I have no large debts just 2 small catalogue accounts that I have been a little late in payin a few times..
What or where would be my next best call... Was thinking about popping in or ringing the bank.. Would this help?
Who else can I try?

jonesMUFCforever

What do your Experian and Call credit reports say about your credit history.

If there is any adverse information on there you will have your answer.
If not it might be down to affordability - any changes to your income since you took out the big loan?

lynz68

Late payments for your catalogues will affect your ability to get credit. Really you need to provide more information to get proper advice.

What is your income? How much are you looking to borrow? Are your catalogue accounts up to date?

Cka

The catalogues one is paid off the other is up to date and due to be paid off end of the month.. Everything else on my credit report and credit I have is upto date and running smoothly.. My earnings are aprox £8000 not including tax credits and other incomes I'm looking to borrow 1500 max my out going are low not even 200 a month so affordable just need the capital quick due to being on top of chrimbo..

worried48

sheer folly! Just cancel Christmas.

lynz68

While you may think it's affordable the bank clearly doesn't. It may be a combination of your low income and late payments.

Nobody can really tell you who would be wiling to lend you money as different companies have their own criteria. I would imagine most main stream lenders would decline and numerous applications will look like desperation for cash and scare lenders away.

Please do not take out a loan at a ridiculously high interest rate.

Instead of borrowing for Christmas look at ways of cutting back instead or you will be in the exact same position next year.

One frugal Christmas and saving for the next one is much better in the long run.

Cka

My last loan was for 7500 and was paid in full no late payments..
And its certainly not for christmas as my christmas is nearly done already as I budgeted throughout the year...

DCFC79

Generally if your own bank say no then its a no elsewhere and asking for a small amount you will get high interest.

lynz68

Sorry misread your previous post about Christmas.


When you got the 7500 loan was your income the same as it is now I'm guessing not as lenders would be unlikely to lend someone an amount that is close to there annual income

Unfortunately they will look at your situation now irrespective of the fact you paid your previous lain.

poppasmurf_bewdley

As others have said, it is sheer folly to borrow money to pay for Christmas.

The best advice you can be given is to forget Christmas this year, or at least purchase minimum 'token' (£5) presents for family.

You have been a member of this forum for almost two years. Have you not read about those who are still paying for Christmases two years back?