lenders with 'no credit check' claims

Vikipollard

Possibly the broker just checked the Insolvency Register to see if you appeared on there? No idea, just a thought.


Even if the payday lenders don't credit check you, you are still going to be stuffed when it appears as a loan on your credit file (even if you can pay back a whopping £1500 plus eye-watering interest on time), so dodging the bullet of a credit check won't make a jot of difference.


Why not just apply to your bank? Surely they will also be able to see that repaying that amount would be no problem in a short space of time.

Apples2

The people most at risk of being stuffed are any lenders prepared to give 1,500 to someone who hasn't paid any debts back in the past.
This would bethe type of person who doesn't want anyone looking at his credit file before lending

27col

Apples2 wrote: »

The people most at risk of being stuffed are any lenders prepared to give 1,500 to someone who hasn't paid any debts back in the past.
This would be the type of person who doesn't want anyone looking at his credit file before lending

So, the OP then.

zeds

Wow. Collective outbreak of nastiness here.

A simple question and... spiteful reactions. (Though some useful...)

For what it's worth I have a good record of paying back debt. And as stated in the original post I could pay back a payday loan as soon as required, so am not in the danger zone of incurring extraordinary extra charges (though as I acknowledged, clearly the cost of the loan is going to be a lot higher than you'd like). People have just made a load of assumptions etcetc.

And yes I'd expect further comments of the same after this post...well done.

claret_mike

what about your bank - apply for overdraft?

Nice_Weather_For_Ducks

claret_mike wrote: »

what about your bank - apply for overdraft?

Good suggestion, and most will either say yes or no without doing a credit check as they already know how you operate financially.

I would have thought that ALL lenders where you do not already have a relationship will credit check and ID check you to be honest.

LittleMissGiggles123

They might not check your credit file but the loan will appear on your credit file once it's agreed so other future lenders will see it.

boo_star

zeds wrote: »

Wow. Collective outbreak of nastiness here.

A simple question and... spiteful reactions. (Though some useful...)

For what it's worth I have a good record of paying back debt. And as stated in the original post I could pay back a payday loan as soon as required, so am not in the danger zone of incurring extraordinary extra charges (though as I acknowledged, clearly the cost of the loan is going to be a lot higher than you'd like). People have just made a load of assumptions etcetc.

And yes I'd expect furthe


r comments of the same after this post...well done.

I think you're being a little unfair to the people that have replied.

You've been cagey over your reasons for not wanting a search done and off the top of my head can only think of three reasons;

1) You have a terrible history and are worried about being declined (which you have said is not the case).

2) You are eyeballs deep in debt and despite servicing your agreements are worried about a decline.

3) You don't want any trace of the loan on your files. Whilst I can completely understand this, it is possible (if not likely) that even if they don't check, they will still report its existence. The lack of a check in this regard is meaningless.

Ultimately other than the loan shark proposal (which for obvious reasons we all advise against) I think you'll struggle to find a lender for 3 and will be hard pushed with 1 & 2.

loanlion

LittleMissGiggles123 wrote: »

They might not check your credit file but the loan will appear on your credit file once it's agreed so other future lenders will see it.

Shes right. There are lenders out there who will not carry out a credit check to underwrite and offer you the loan (they will check that it is 'affordable' and that you aren't on any fraud lists instead) but it will appear on your file when you accept it. The help would be better if you could be clearer about what you are trying to achieve.

claret_mike

Another reason could be that they are in a job like a bank where there is a need to show you can operate your finances ok. Seeing payday lenders on there may be an issue?

As I have suggested- if plenty of cash to service a debt of £1500 then overdraft with own bank would be cleanest way without a credit check. If they wont offer one then maybe OP should a accept their situation.

Have you considered selling goods or trying to get extra income?