Please help me!

jorgeuk76

Hello !!

I was wondering if you could help me advising me of what best to do get a 5K LOAN under my circumstances..Please give me a few minutes of your time to read my message! hopefully you can give me an advise of an expert as i really feel lost!:o

I've recently purchased my equifax credit report (12/07/07) and it came as FAIR and i taught that would actually not be that difficult to get a loan! But apparently I've made a payment to my credit card 2 days late last May and thats the only bad record it shows on my latest credit report, purchased on 27/07/07 apart from not being registered at the electoral register. My latest report shows that my score came down from FAIR to POOR because of that late payment I've done to my credit card.

I don't have a bad record of late payments apart from this one and I need desperately to get a loan to fund some treatment i want to do and as a private tenant and with no car or any property to secure at any loan, the only options that comes available are these high interest rate (15%+)

I just need to get the treatment financed but don't know what to do as my credit rate is POOR just because of that late payment I've done, even though that was one off situation at my payments history.

When i spoke to my credit card company they told me they would pass a note to Equifax saying the payment was just 2 days late and its now up to date. Now the other thing is, if i register with the electoral register will that automatically bring UP my score quickly? and I'd soon be entitled to a lower rate loan to finance my treatment?

If I do this NOW would be my credit rate be better enough for September (when i need to go and do the treatment)?

Or perhaps if i get an unsecured loan from these companies who says they accept people with bad credit NOW and then after improving my credit rate could I shop around for a lower rate loan and consolidate the unsecured expensive loan?

The other option I taught was my credit union from work! I'm not registered with them yet but they told me they need to have a record of savings for 3 months minimum and only after a year with them i can borrow 5x the savings, but i can't afford to wait a year to get this treatment done.

Please give me your honest and expert opinion!

At the moment I'm just getting really frustrated with all my situation! please advise me if theres a solution

Thanks for your time !

Looking forward for your response! :j

lemma1968

If you are not on the electoral roll then you are practically stuffed for unsecured loans. Lending agencies want to know where you live and that you are not going to up sticks and move so they cannot find you. if they see people not registering then they cannot confirm people's ID, their nationality or if they are con artists.

That should help you. I do not think one late payment on a credit card would put you down to "poor"...that does not make sense to me.

I would not go to a lender who does adverse credit unless you really have to, and I'm not sure you do have to at the mo.

Is there no way you can get your treament on the NHS?

jamesd

Start trying to get on the electoral roll now. It's going to be very tough to get on it and have it showing in your credit report by your deadline. Don't miss the end of the month - that may cause your entry to be delayed by another month.