Loan With Defaults

mystic_bertie

A few years ago i hit bad times and had a lot of debt which i intended to pay off but my plan never got the chance to work as i lost my job and was out of work for 2 years.

Im paying my debt off over 10 years in a debt arrangement scheme. I have 6 defaults on my credit file. I do have an excellent credit score despite the defaults, my score is 953 and 'excellent'.

Am i likely to be able to get a 2k loan to buy a car, is there any company who would entertain me? I know im a bad risk given the defaults. Do i need to wait until my defaults are gone after the 6 years i have about 4 years to go.

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P.S every time i use this forum i get blasted and ridiculed by the haters, if you dont like my post and if you dont like my circumstances then please refrain from being nasty. Im asking for help im not asking for your abuse or for you to take your frustrations out on me.

dealer_wins

I will politely and without offending you say that it is unlikely you will get a loan through a mainstream lender due to your defaults and DMP.

You may get a loan through an expensive car provider (for example carcraft), which you would pay through the nose for and is a complete rip-off.

DCFC79

Forget the score of 953 and the excellent part as lenders dont see either so aren't relevant. Maybe try asking your own bank if they could help. If any member posts abuse then report them, you can block members as well.

mystic_bertie

dealer_wins wrote: »

I will politely and without offending you say that it is unlikely you will get a loan through a mainstream lender due to your defaults and DMP.

You may get a loan through an expensive car provider (for example carcraft), which you would pay through the nose for and is a complete rip-off.

Im not easily offended, just so many spiteful people on here. I dont really want to use a dealer as i usually buy private and i definitely dont want to be ripped off.

DCFC79 wrote: »

Forget the score of 953 and the excellent part as lenders dont see either so aren't relevant. Maybe try asking your own bank if they could help. If any member posts abuse then report them, you can block members as well.

When you mention asking my own bank, does that mean talking to someone at the local branch or trying their loan centre?

I have reported people in the past, it just seems to happen too often so im hoping my wee statement will keep them away.

I searched this forum and i read someone with a similar problem and they got the reply of why would someone lend to you, your a bad risk blah blah blah, bringing them down, not helpful at all. Im thick skinned but i hate that behaviour:D

DCFC79

Yes physically go in and ask, you dont tend to get loans of 2k and if you do its going to be a high apr so its not a loan you want but more an overdraft maybe. I can't guarantee what they will say obviously but if you ask to see someone, they should tell you whats available if anything.

What kind of payments could you make ?

mystic_bertie

DCFC79 wrote: »

Yes physically go in and ask, you dont tend to get loans of 2k and if you do its going to be a high apr so its not a loan you want but more an overdraft maybe. I can't guarantee what they will say obviously but if you ask to see someone, they should tell you whats available if anything.

What kind of payments could you make ?

£100 per month would be fine, so maybe over 2 years. I dont mind a higher apr as long as its not too crazy. Ill try and get an appointment at my local branch and see if there is any hope. :)

DCFC79

mystic_bertie wrote: »

£100 per month would be fine, so maybe over 2 years. I dont mind a higher apr as long as its not too crazy. Ill try and get an appointment at my local branch and see if there is any hope. :)

Ok so £100 so have you been saving that up then ?

mystic_bertie

DCFC79 wrote: »

Ok so £100 so have you been saving that up then ?

just bouncing back from a 3 month spell of unemployment, due to late rent twice my landlord wont let me stay in this property so i have to find another house to rent, so my finances may take a couple of months to fully recover but i could afford the £100 if i got a loan of some kind.

lynz68

I think you may breach the terms of your DMP if you seek further credit you will need to check with whoever is managing your DMP before you do anything.

DCFC79

mystic_bertie wrote: »

just bouncing back from a 3 month spell of unemployment, due to late rent twice my landlord wont let me stay in this property so i have to find another house to rent, so my finances may take a couple of months to fully recover but i could afford the £100 if i got a loan of some kind.

Good point by lynz, you might be best asking your dmp provider if or what options are option to you.

My bad, Id forgot to mention abut the das and further credit.

jonesMUFCforever

mystic_bertie wrote: »

just bouncing back from a 3 month spell of unemployment, due to late rent twice my landlord wont let me stay in this property so i have to find another house to rent, so my finances may take a couple of months to fully recover but i could afford the £100 if i got a loan of some kind.

Without being rude it is that attitude of I can afford this and that - which has got you into this mess in the first place. Be realistic you have to live within your means.