where to look for 10k loan with a rubbish credit history

Savingdad

Not for me and don't bother with the budget and save speech, my friend isn't listening so the last thing I can do is try and find the best place for them to look into loans.
They have nothing to secure a loan on, they don't want to discuss their financial situation with me but know I have my head screwed on when it comes to money so have asked my advice.
I have told them to sign up to noddle and see just what is wrong with their credit but I get the feeling they don't have time to fix it whatever it is so I'm looking for somewhere they can have a look at loans after declaring they have a poor history, money supermarket, or anywhere else let you put in poor credit history and go from there.
I have told them not to randomly apply for loans but I want to try and point them in the best direction I can.
Thanks in advance

Savingdad

Sorr6, forgotto add both partners work, combined income of 60k I guess, rent, one child.
No I idea how they can be in tbis state but they won't discuss financials with me.
I get the feeling m6 friends partners does not know or understand the extent of the problem.

CHR15

Best thing you can do is to keep as far away from that disaster as possible.

Imagine what is going to happen when the partner finds out, "savingdad helped me get the loan".

If you have to do something, try to make them understand getting a £10k loan does not result in becoming debt free.

jonesMUFCforever

If in reality their financials are such dire straits then nobody is going to lend to them - if you are a close friend and in any way are asked to act as a guarantor then walk away.

Savingdad

Lol I have lent and written off all I am prepared to and there is no way I would be guarantor for anyone.
I survive on 1/3 of their income with a morgage, wife and toddler so while I'm willing to do leg work on the helping and advice side that's it.
If the partner finds out I helped point in the right direction they would see its only because I trued to help.
I'm not going to be centre of a domestic melt down because I gave advice and hopefully good advice at that.
Just looking for somewhere to point them to look, if asked I will point out they can't afford repayments and they need to pull in their budgets but until their lightbulb moment I'm just goung to try and help them with rhebest advice i can.

CKhalvashi

jonesMUFCforever wrote: »

If in reality their financials are such dire straits then nobody is going to lend to them - if you are a close friend and in any way are asked to act as a guarantor then walk away.

The best advice possible.

If someone is in !!!!, getting into further !!!! isn't the best idea, and especially not getting into it with them.

Savingdad

Until they trust me with some more financials all I can do is make sure they don't go for a 487% cowboy loan, they are grown up with rubbish financial skills.
As a friend all I can do is support them with the best advice and information I can and that's what I am looking for.
I know its unlikely they will get a loan but they are likely to try regardless of common sense so if anyone can tell me somewhere to look that would be great, if not then I will google and read up.
My advice to them us cut down, budget and save, they don't like hearing that and are looking for quick fixes, I'm trying to minimise the damage they inflict upon themselves.

Voyager2002

You might tell them about this site, although they might be offended by the (good) advice they are likely to get here.

Have you asked them to consider whether they have anything they could sell? Because anyone willing to lend that much to someone with poor credit is likely to be the kind of lender that no-one wants to touch with a barge pole...

Fishingtime

In times of trouble I always look to see if there is any money in the sofa, you could try that to begin with

Tixy

It really does depend on what is 'bad' on their credit file.
If its really bad then they won't get a £10k loan with no security from anywhere (not even at 400% APRs). Which may not be bad news for them, if they cannot get a loan at all then they'll have to look at other options.

I would suggest they try their own bank that their income is paid in to. But how they have run that account will be a big factor.

Do you know what the funds are for? is it refinancing? or something new?

Savingdad

I would guess consolidation, they have nothing worth that sort of money so I'm guessing its from various cards, smaller loans and overdrafts but I don't know for sure.
I'm hoping they don't get anyone to agree but I can see grief either way...