We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
🔔 You've got till Monday to apply to become an MSE Forum Ambassador
Bad credit loan?
Can anyone recommend a 'bad credit' loan company that's reputable?
I can't get one from the bank as I work part time now since having my daughter so can't offer much.
So trying to get one in my husbands name but the bank declined as he doesn't have a great crediting rating.
We just one to consolidate all our debts into one but so many small companies worry me. Need to know which are well known/good. For around £6000
I can't get one from the bank as I work part time now since having my daughter so can't offer much.
So trying to get one in my husbands name but the bank declined as he doesn't have a great crediting rating.
We just one to consolidate all our debts into one but so many small companies worry me. Need to know which are well known/good. For around £6000
0
Comments
-
No - there are no loans for people with bad credit, other than guarantors and 200% loans.
What exactly is your situation, your history, your income, etc. How are you defining bad credit?0 -
What is your thought process about consolidating?
Plenty of posts all over this forum about it failing, even with the best intentions as the root cause is rarely addressed and resolved.
Have you done a SOA to see how much disposable income you have for the loan/debts?
Have you looked when your debt free date may be with a snowball calculator by throwing every extra penny at the debts?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 -
Do not go applying for a loan from some unknown entity. Various ways of sorting this, you can cut your spending, drop a shopping brand or shop at Aldi or Lidl, only buy what you need,
When lloking at where to shop obviously take into account cost of petrol to get there v the savings from the shop.0 -
Look up 'Snowballing' your finances - basically pay the most each month on the highest charging credit product you have whilst paying the minimum on the rest.
When that debt is paid off repeat with next most expensive etc.0 -
No company will lend you £6000 with the vague hope they might receive a few payments before you look to consolidate again.
Get real and go to the Debt free wannabee board, post a SOF and live within your means and get debt free!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 348.8K Banking & Borrowing
- 252.3K Reduce Debt & Boost Income
- 452.6K Spending & Discounts
- 241.6K Work, Benefits & Business
- 618.2K Mortgages, Homes & Bills
- 175.9K Life & Family
- 254.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards