Looking for a loan with no guarantor/ bad credit

azza987

Hi all, I have been searching for a loan now for about 2 months, been ripped off a few times with the loan brokers or whatever they claim to be, they took £80 out my bank and conveniently sent the confirmation email to my junk folder. Oh those companies really get under my skin!
I've found a company I need to find a bit more information on and thought I'd ask here if anyone has dealt with this company or know if there is a catch as they sound too good to be true if I'm honest.
The company is called brittfinance.uk and their typical example is borrow £10,000 over 10 years with a 7% interest rate. They also claim they are for people with bad credit, and they do not need a guarantor. They say they are a direct loan company and not a hidden charge loan searching company.
They tick all the boxes for me but I am extremely wary, I know there must be a catch but I can't seem to find one... Yet.

My finances are out of control I work full time and have 3 young children I honestly don't know where to turn. Threatening letters from my landlord, phone company, electric provider and so on, has really hit me hard, on top of my personal debts which amount to around £4000.
I know a loan is not the answer but I really am out of ideas, paying 1 company £200 a month seems reasonable to me if it rids me of all the mess that's going on.
So please, if anyone knows of this company or has a suggestion for me let me know. Thanks in advance
Aaron

lynz68

I have no actual experience of this company but a quick google of the address comes back as residential flats. Also when you actually go into the terms and conditions they do act as loan brokers and debt management advisors among other things so please avoid avoid avoid.

Really with the situation you are in you are not going to get a loan.


Please go on to the debt free wannabe board you will get lots of helpful advice and also talk to one of the free debt charities such as Stepchange they will not judge you and can provide you with advice regarding your situation.

[Deleted User]

Looks terrible -

"Britt Finance can offer respite from monetary problems"

Very reassuring.

ViolaLass

Their website repeatedly claims they do not charge loan fees so do we think they're lying? What's the catch?

(Not saying I'd trust them, but I can't see the problem and I'd like to!)

DCFC79

A loan isn't the answer, contact one of the free debt charities.

andyfromotley

Hi Azza,

Welcome.

Stop. you do not need more debt.

1. you need to fill this in
http://www.stoozing.com/calculator/soa.php

2. post it on the debt free wannabe forum on here. you will get advice on the best way to proceed. That may incude some form of debt relief. Cant say until we see the numbers.

If you continue with what you are doing you will continue to get ripped off or possibly end up with a loan at an horrendous interest rate which you will soon default on.

There is a way out of this. So take my advice and good luck.

azza987

Thankyou to everyone for quick replies, yeah I knew it was too good to be true, lots to think about with your answers I'll look into what was mentioned.

DCFC79

azza987 wrote: »

Thankyou to everyone for quick replies, yeah I knew it was too good to be true, lots to think about with your answers I'll look into what was mentioned.

Its a small amount you owe, look at different ways to make savings, the link posted earlier by andy will help with that.

SnowTiger

Britt Finance Ltd. This site is owned and operated by Britt Finance Ltd. which is authorised and regulated by the Financial Conduct Authority – interim permission number 098380632. Address : 198, St.John Street, London EC1V 4LS Data Protection License: Z1883073

Their Interim Permission number and Data Protection Licence number appear to be invalid.

http://www.fca.org.uk/firms/systems-reporting/consumer-credit-register

https://ico.org.uk/ESDWebPages/Search?EC=3&fieldregistration=Z1883073

Domain name registed to an individual, rather than a company:http://who.is/whois/brittfinance.uk.

http://www.brittfinance.uk/terms-policies/:

Brokers Terms

[...]

When acting as a loan or finance broker we seek to get a lender or financier to offer you a loan or finance. We will endeavour to obtain for you a Loan in the amount you have requested. As a Broker and not a direct lender, we do not guarantee to obtain for you any of, or the full amount of any loan as first requested, as all loan offers are subject to your own personal circumstances.

Just another dodgy broker. Many of the others claim not to charge (upfront) fees. There's always a carefully worded catch. You give them your contact details, they call you back. I wouldn't be surprised if they extracted some sort of fee from punters during that call somehow.

dealer_wins

If youve been "ripped off a few times" you cant be down to your last £5.

Im calling BS on this, but if your genuine OP post on the "debt free wannabee" board, and they will help you live within your means and start repaying your debt etc

azza987

Hi snow tiger, that's really bad as they are blatantly lying on their website, they claim to be a direct loan company. But like you say their clever words and bending of rules the slip thru the net of the law.
To Dealer wins, what are you referring to with BS and OP? I don't Understand.
Down to my last £5 yes indeed. I had bank charges and late payment fees because of castlefinance and their £80. I wrote up a letter and emailed them threatening to hear from my solicitor if I didn't get it back. Within 2 hours I had my money back.
says a lot really, they are pushing their luck on the edge of the law. They email you all the information on the loan you apply for but the email about the fee they tag as spam so it goes to your junk folder. So they bet on you never noticing the charge. Makes me sick to know these companies are stealing people's last bit of money they have.
There is a much bigger picture here with the monetary system,
anyone ever see that documentary zeitgeist addendum on YouTube? A shocking reality of what money is and does.
thanks again everyone.