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Unsecured loan for person with poor credit
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LaceyAllen
Posts: 9 Forumite
in Loans
Hi,
Last summer, I was made redundant from my job. Before this, my credit was quite good, and my business was doing well.
However, since the redundancy, my debts have spiralled out of control, and my credit rating is now poor.
Then, three months ago, I was able to secure full-time employment with a very good salary. This salary enables me to pay my household expenses, which I have severely reduced...no extras whatsoever. However, I am still left with a shortfall due to a loan and credit card payments. I admittedly mismanaged my money (an understatement) and am now paying the price. I would very much like to pay these debts down, am am currently looking for freelance work to supplement my FT income.
What I would like to do is try and obtain an unsecured personal loan for £23,000 over perhaps 10 years. I am a homeowner and pay my mortgage, but my husband is umemployed and I don't want his name on my debts.
Are any of you aware of lenders who are able to do an adverse credit, unsecured loan for this amount and time frame? I would like to do it for less, but I'm already paying about £500 per month on these credit card debts and loans. I have an agreement in principle from Freedom Finance, but they're only willing to do seven years and I think the payments will be too high (they haven't provided me with an amount as yet).
Many thanks for any input you can offer.
Last summer, I was made redundant from my job. Before this, my credit was quite good, and my business was doing well.
However, since the redundancy, my debts have spiralled out of control, and my credit rating is now poor.
Then, three months ago, I was able to secure full-time employment with a very good salary. This salary enables me to pay my household expenses, which I have severely reduced...no extras whatsoever. However, I am still left with a shortfall due to a loan and credit card payments. I admittedly mismanaged my money (an understatement) and am now paying the price. I would very much like to pay these debts down, am am currently looking for freelance work to supplement my FT income.
What I would like to do is try and obtain an unsecured personal loan for £23,000 over perhaps 10 years. I am a homeowner and pay my mortgage, but my husband is umemployed and I don't want his name on my debts.
Are any of you aware of lenders who are able to do an adverse credit, unsecured loan for this amount and time frame? I would like to do it for less, but I'm already paying about £500 per month on these credit card debts and loans. I have an agreement in principle from Freedom Finance, but they're only willing to do seven years and I think the payments will be too high (they haven't provided me with an amount as yet).
Many thanks for any input you can offer.
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