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looking to get a very short term loan ...
until house is sold to tie me other a bit. i am not sure that my credit rating is that brilliant though i have caught up on a lot lately. any tips? i am thinking of seling some products and love to get started but no cash at moment . thoughts on something like rate setter.com or anything else recommended regards
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Comments
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I think you need more of a plan.
What do you need the money for?
What savings do you have?
How much spare income do you have each month?
How much do you need to borrow?
When will your house be sold?
What is your credit history like?0 -
Why need loan!Deleted_User wrote: »I think you need more of a plan.
What do you need the money for?
What savings do you have?
How much spare income do you have each month?
How much do you need to borrow?
When will your house be sold?
What is your credit history like?0 -
Ok, well good luck with that then.0
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Deleted_User wrote: »I think you need more of a plan.
What do you need the money for?
What savings do you have?
How much spare income do you have each month?
How much do you need to borrow?
When will your house be sold?
What is your credit history like?
OP, if you are looking for constructive advice you need to provide more information. Answering the questions raised by zx81 would be a good starting point. No one can help you without basic information about your circumstances.0 -
No credit card no savings
Why need loan!
Although I can see you have put an answer of sorts in the heading.....this isn't enough information for anyone to give you tailored advice.
You need to elaborate a little more as previously said.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
I think you need more of a plan.
What do you need the money for? set up a business
What savings do you have? none
How much spare income do you have each month? not a lot
How much do you need to borrow?1000-2000
When will your house be sold? 2 months max hoping
What is your credit history like? check noddle have 1 out of 5 at moment.Although I can see you have put an answer of sorts in the heading.....this isn't enough information for anyone to give you tailored advice.
You need to elaborate a little more as previously said.0 -
I think you need more of a plan.
What do you need the money for? set up a business - have you spoken to your bank about a business loan?
What savings do you have? none - how long has the thoughts of a business been a plan?
How much spare income do you have each month? not a lot - you will need to have a ball-park figure of how much disposable income you have to understand whether any loan repayments are practical/manageable/affordable
How much do you need to borrow?1000-2000 - if a loan is unobtainable, can you find an investor for your business? a family member maybe
When will your house be sold? 2 months max hoping - things could go belly-up with a property sale, right up to the 11th hour so this is taking a massive risk if this is your only means to repay
What is your credit history like? need to check it - do you have any history of missed payments? defaults? late payments? do you use a CC and pay off in full each and every month?
See further comments in Red
your income will also be considered for a loan application. Are you working at the moment?I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
I think you need more of a plan.
What do you need the money for? set up a business
What savings do you have? none
How much spare income do you have each month? not a lot
How much do you need to borrow?1000-2000
When will your house be sold? 2 months max hoping
What is your credit history like? check noddle have 1 out of 5 at moment.
Do you really want to be going into business during such a stressful time?
I'd wait until you've sold your property and got the money in your hands before setting up a business.
You can borrow money from payday lenders. You might need to take out a few to get to your proposed total of £1,000/£2,000. You can roll over the payday loans when they become due if you need another month to repay the loan.
I wouldn't mention the money is for a business as they will decline the loan. If you said it was for unexpected living expenses then it's more likely to be approved....you will have to spend the money on living expenses though and use your normal income to invest in the business.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0
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