Loans for Bad credit rating

19lottie82

OP, in fairness, your credit rating is already trashed, so don't even think of trying to take out more credit to pay these bills.

Contact who you need to pay and make a token payment and come to an arrangement to pay the rest up.

Then get on the phone to step change.......

Ray:

19lottie82 wrote: »

OP, in fairness, your credit rating is already trashed, so don't even think of trying to take out more credit to pay these bills.

Contact who you need to pay and make a token payment and come to an arrangement to pay the rest up.

Then get on the phone to step change.......

A bit of a stupid question... but could it get any worse?

RuthnJasper

Ray: wrote: »

A bit of a stupid question... but could it get any worse?

It will if you try and ignore it and hope it will somehow go away. If you follow the advice given here and on the main site sections, it will be difficult at first but then start to get easier.

But you do need to get on to StepChange or the CAB for advice and a plan in your particular circumstances. Good luck. x

Mr_F_Dorsetty

Ray: wrote: »

A bit of a stupid question... but could it get any worse?

It can always get worse, believe that if nothing else

Right now you're worrying about paying the rent. If however you're living in a cardboard box in 3 months time under a bridge, de facto, it'll be worse.

As many others have intimated you have to change your life and live within your means; not lurch from one crisis to the next.

I'm pretty sure that a pay day loan company or maybe people such as Provident will lend you money, it is what they exist for. But that is because the nature of their business plan is to scoop up the weak and frankly, (put politely) silly people then exploit them.

As 19lottie82 correctly says, have a sensible chat with your landlord plus anyone else in that £500 and explain where you are at and why. Then try to arrange a payment plan/option with them. You're not the only one in trouble, people are all aware of how things are for the many, you might get a fair hearing.

Is it wrong that our society is run on the terms of 'inclusion by consumerism', yes of course it is. I'm 'A' political by nature and persuasion, but it is a clear hard fact that the gap between those with and those without grows wider year by year.

Ultimately however that knowledge, whilst highlighting the gross unfairness of life, doesn't pay the bills. So you have to either earn more or spend less.

Create a sensible budget and stick to it or your whole life will be one of endless misery and worry.

Good luck with it all.

BillJones

Ray: wrote: »

Thanks to you both. I am only thinking 'loan' because I can pay it back in instalments rather than the whole lot in one go, thus being able to sort finances out in the current situation. And as this happening now? I need to organise 'something' now. So do you suggest any particular place to apply with low credit ratings? thanks (again).

No. As others have suggested, there aren't any "reasonably priced" loans if you have a bad credit history. The only loans available are expensive enough that they will lead you to a spiral of increasing debt, as next month you'll have your same costs, but will also have to pay hundreds of pounds of interets charges on top, as well as repaying what you borrowed.

You've already let things get to a point where you are in trouble. You cannot borrow your way out of it.

I appreciate all of you all are referring me to the debt plans but that won't solve the bills I have to pay today? That is an eventual thing, and I won't be paid until the end of the month, and we're in the 2nd week. And yes I will look at them, but I am trying to see what I can do in the interim.

Well, as borrowing is not a solution, you are left with earning more, or selling things. What job do you have, and can you increase your hours? 70 hours per week is pretty manageable even for the longer term, it's very easy in the short term, so could you find a second job, or add significant overtime?

Next, what do you own? Sell clothes, car, bikes, phone, computer, television, jewellery, basically, sell whatever you can, and pay the bills.