Strange conversation about a loan.

scrubmuncher

Basically, I have bad credit. I found myself out of work, and with money still to pay off my credit cards. Obviously having bad credit it is impossible to get a personal loan from my bank. So I went on the internet to try to find if there are lenders out there who will lend to someone with bad credit and out of work. Crazy I know, but I thought there must be people who are unable to work right now through no fault of their own who need credit.
Anyway, I after speaking with my bank and getting knocked back for the personal loan I filled in an query online to see what figures I would get through. I didn't get that far, infact all I got was a screen telling me someone would be in touch soon.
And behold I got a call while walking the dog. After pretty much accepting me they then told me the loan was fine, and after I had deposited £50 in their bank I would recieve the loan within half an hour. I said this is strange, he said no, is normal for unsecured loans.
So I said I need to check this out, can you email me this info please. Yes, but if you want paperwork it costs £100. What I said, I surely will have a contract, I need to see this before I would ever consider agreeing to anything. No, this is an unsecured loan, there is no paperwork. Hahahaha! I told them to keep it. The company was aoneloans.com and another Britfinance.

Are there such things as genuine loan companies for people in my situation. Basically I am unable to pay off my credit cards. That is what I need it for. Because I never clear off my balance my credit score is just getting worse. Are there any companies out there to help someone in my position?

Tixy

No there are no companies who offers loans to peoplewith poor credit history and without an income to repay it.

I would suggest you get in touch with one of the debt advice charities for impartial advice and to talk through other options for dealing with the existing debts. See here - IMPORTANT - Where to seek professional impartial advice about your debts.

As an aside - a lot of people in a similar position have reported ending up on loan broker sites that charge up front fees - don't put your bank details in to any of these types of sites as you'll find they'll try deducting fees from your account.

HappyMJ

There are solutions for your problem. It's called debt management. You don't have an income so you pay exactly what you can afford to...which on JSA would be £1 per month until you get a job again then you negotiate with the lender a new affordable repayment.

There is no need to pay off your credit cards if you can't afford to. You do need to stop using them though and just live on the money you claim in benefits.

Without a job you have no credit score anyway no don't worry about that. Once you get a job you can fix that. It should only take a year to fix the damage non payment for a period of time has caused. If you discuss this with your lender you'll find they can be quite good. If you find yourself out of work for 6 years or more you can also arrange for the remainder of the debt to be written off if in the foreseeable future it looks like you'll never work again.

scrubmuncher

I could probably afford to pay a loan back at £50 per month. I am single parenting and as sad as it is, after child care to accommodate her outside of school from 8 till 9 then 3.15 till 6.15 I am much worse off working. I have tried every way for this not to happen but there is no way around it, it seems.
It's an awful and embarrassing situation to be in, but I sure wish I could get these cards paid off. I owe about £1200 on them and I'm really uncomfortable being in such a state long term.

Tixy

A debt advisor from one of the charities will be able to advise you and may suggest writing letters to your creditors, explaining the situation you are in and offering reduced payments.
The car companies may well agree to freeze interest and in which case you could clear the debts in a couple of years or so.

Don't be embarrassed about the situation you are in or embarrassed to get help on dealing with your debts.

dealer_wins

You wont get a loan, you have a choice of budgeting really hard and meeting your repayments, or defaulting and entering a DMP etc

Might be worth visiting the "debt free wannabe" board and posting your income/outgoings. You will get excellent suggestions to cut your expenditure back and which way forward to tackle your debts.

DCFC79

You have been given some good advice, no reputable lender will request any money up front, whether unsecured or not. Your credit score isn't used by the lenders as its not seen by them.

Definitely contact 1 of the debt charities, stepchange is 1 of them.

[Deleted User]

scrubmuncher wrote: »

Basically, I have bad credit. I found myself out of work, and with money still to pay off my credit cards. Obviously having bad credit it is impossible to get a personal loan from my bank. So I went on the internet to try to find if there are lenders out there who will lend to someone with bad credit and out of work. Crazy I know, but I thought there must be people who are unable to work right now through no fault of their own who need credit.

Yep crazy, getting credit was the furthest thing from my mind when I was out of work and I could only breath a sign of relief that I had 1 due never mind adding


If unemployed then you need to consider all options and yes that includes insolvency, particularly if you can't stop thinking about credit, getting all the benefit help you can get clearly and speaking to family, right down to even treating the unemployment as short term as you can


This is no more stranger conversation then the one I had as a potential collector knowingly knowing I wasn't far from giving myself a call to discuss payment forget anyone else! I couldn't imagine it see it could be worse


Hope you'll find another way, as debt does not work by fairness or non fault.

Blinking_Giraffe

AOne Loans are reported on the FCA website as a scammer.

Can't post a link to it so heres an extract

We believe this firm has been carrying out consumer credit activities in the UK without our permission or authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.

Blinking_Giraffe

and their details





A One Loans

Address: 198 St John Street, London, EC1V 4LS
Telephone: 020 3769 1139; 020 7097 8839
Email: customer.support@aoneloans.co.uk
Website:
False FCA IP No: 098380632

MNM2903

Dont get more debt to clear current debt. Come to an affordable arrangement with your creditors. I done this last year im now debt free and aulthough when i was unemployed for 3 months the ammount i could pay was around £50 1 year on im now debt free after using money i earn from work to pay of greater sums and clear the debt. Its a great feeling but can be a long road depending on your personal circumstances but well worth it.