P2P loans

TedButlerstheman

Where is the most likely place to be accepted for a loan for a few thousand? Which is the most likely place out of all the Zopa.com and all the others?

I have been turned down from the bank, I dont know why I have perfect credit file, never defaulted or even been late.

I dont mind higher interest rate, I plan to pay it off quickly.

So apart from the local shark where would be the best place to get a loan when the banks turn me down?

[Deleted User]

If your own bank has turned you down, then P2P is unlikely to be an option, as it's geared towards people with good credit history.

What do your files say? What's your income and how much as you looking to borrow?

macman

How much is 'a few thousand'?
£2K, £10K, £30K?

TedButlerstheman

I was thinking about several thousand for a car a friend is selling. It is a good opportunity and if I can get the money in time great, if not someone else will get it because he has to sell it soon thats why its so cheap.

I will apply on zopa and see what happens.

bargainbetty

If you have other debts, you will need to look at your total outstanding debt and compare it to your income - your bank may have turned you down because of the total percentage of debt v your income, or on affordability grounds.

plunt

applying for loans in the "hope" of getting it will damage your file more and make it even harder. So be careful !

DCFC79

TedButlerstheman wrote: »

Where is the most likely place to be accepted for a loan for a few thousand?

So first it was a few thousand then just under 90 minutes later its now

TedButlerstheman wrote: »

several thousand

Its a huge leap from a few thousand to several.

The turned you down for a reason, have you used pay day loans ?

James_B.

DCFC79 wrote: »

Its a huge leap from a few thousand to several.

Really? I'd use both terms synonymously. To me "a few" means something like 3-6, as does "several".

bsms1147

TedButlerstheman wrote: »

I was thinking about several thousand for a car a friend is selling. It is a good opportunity and if I can get the money in time great, if not someone else will get it because he has to sell it soon thats why its so cheap.

This sounds sensible.

Herzlos

If your bank said no, then you're not going to get anything without a punishing rate.

TedButlerstheman

Just got reply:

Thanks for taking the time to apply for a Zopa loan.

Unfortunately, based on the information you have given us we are unable to offer you a loan at the moment.

We can't tell you the exact reason for our decision or comment on the information in your credit file.
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