stick or twist

Johnnii

I been rejected by 3 lenders and then applied through the Personal Loans Centre & UCC Loans. I got a offer for a loan of 3500 at 45% APR from Welcome Finance and again rejected by Scottish London as i do not have enough disposable income (i earn 562 per month.
My credit rating is 'FAIR' and i phoned my bank Barclays and they gave me a rate of 22% APR for the loan which i thought was too high as i would be paying 104 per month.
To those who have been through the process of applying to brokers and lenders who cater for less than perfect credit what intetrest rates have you got your loan at?. Will i better 22% that Barclays offered or should i just go with them.

CONFUSED1_3

i was in a similar position to you this time last year . had problems getting a loan as had a low credit score as the majority of my income was based on tax credits and child maintenance which couldnt be considered as income. ended up having to take a loan with citi financial at 26.9% which i was told they would be able to reduce dramatically after 6 months . however when i reached this point they said it wasnt possible and i needed to wait a bit longer. then a miracle happened and my bank who had previously refused me any help offered me a loan at half the price of what i had been paying . can only think that my credit score must have improved having paid the large amounts that i had for 6 months. not sure if this is of any help to you but i hope so .:D

jonesMUFCforever

I have come to the conclusion that the OP is just a timewasting troll.
Just have a read of his previous posts.

Johnnii

ejones999 wrote: »

I have come to the conclusion that the OP is just a timewasting troll.
Just have a read of his previous posts.

timewasting troll?:T
explain plz

jonesMUFCforever

Someone who is taking the !!!!!!

You come on here almost weekly saying that you have been offered one loan at a certain rate but its too expensive then move on to the next one etc etc.

Johnnii

ejones999 wrote: »

Someone who is taking the !!!!!!

You come on here almost weekly saying that you have been offered one loan at a certain rate but its too expensive then move on to the next one etc etc.

I only been offered ONE loan which was Barclays which is part of the reason why i made this actual post.
If you read my posts you would see that. If you have'nt i suggest you do then make another one of your valuable posts to this thread:think:

jonesMUFCforever

6/9 You were refused by Northern Rock.
12/9 Thinking about applying to GE Money.
2/10 Applied to A&L and got rejected.
9/10 Tried UCC loans.
12/10 I got a offer for a loan of 3500 at 45% APR from Welcome Finance and again rejected by Scottish London.

This is after been accepted by Barclays!

You have absolutely no chance whatsoever of beating that Barclays quote (I will be amazed if they still give it to you to be honest)and your credit files will be blitzed for at least the next 6 months.

Go back to Barclays if you really need the money and stop applying for credit.
You are making things 10 times worse by continuing to apply for this and that.

If you don't think this post has been helpful so be it - its your mess not mine.

Johnnii

ejones999 wrote: »

You have absolutely no chance whatsoever of beating that Barclays quote (I will be amazed if they still give it to you to be honest)and your credit files will be blitzed for at least the next 6 months.

Go back to Barclays if you really need the money and stop applying for credit.
You are making things 10 times worse by continuing to apply for this and that.

Why could'nt you have said that in the first place!. I wanted people's opinion on what i should do which were constructive rather than you calling posters stupid immmature names like trolls. Grow Up plz:T

p.s i didnt get the barclays offer only till after i applied to A & L.
To someomne who is very new to the world of loans and how it all works i am very naive i admit so i need to ask alot of Q's unfortunatly. You have 1000+ posts so you could be a little more supportive to new members rather than do what you have done on this thread.

CLAPTON

You haven't given your full financial circumstances so I have to guess.

However, paying 22% interest is absurb unless you are absolutely desperate.

You have a very low income and simply can't afford to borrow anything. Save up for what you want ... this means you will earn money whilst saving and donot have to pay 22% interest to a bank.

Johnnii

The problem is i owe 2000 already as i used that amount to pay for tuition fees. Although i don't have to pay back this money asap i need to pay it back quite soon (in the next few months)
As i am working PT i guess your right in that i don't earn enough to borrow that much and also lenders won't give me a loan cos my disposable income is not high enough.
I would'nt get anything below 16% APR anyway would i with my credit rating even if i earn't more money to borrow.

jonesMUFCforever

Johnnii wrote: »

Why could'nt you have said that in the first place!. I wanted people's opinion on what i should do which were constructive rather than you calling posters stupid immmature names like trolls. Grow Up plz:T

p.s i didnt get the barclays offer only till after i applied to A & L.
To someomne who is very new to the world of loans and how it all works i am very naive i admit so i need to ask alot of Q's unfortunatly. You have 1000+ posts so you could be a little more supportive to new members rather than do what you have done on this thread.

I think that if you read all of your OWN posts and replies you will find that this was my advice to you in the first place.
You then ignored that advice and started other threads which made me think you were a troll.
I apologise for that now.:beer:

However you still have a problem and applying for loan after loan will not solve it.
I have said that I don't think any lender will give you a loan because of the number of applications you have made in the last 2 months.
The best I can suggest is this - how much can you afford to repay every month?
When you have a figure in mind open an online savings account and transfer it there together with any amount of spare capital you may have.
After doing this how much will you have?

Continue to pay this amount each month into your savings pot and do not spend it on anything else other than your debt.
You mention tuition fees - are these due direct to a college? If so do they have a student liaison officer who may be able to give you financial advice about repaying your fees.

They might accept the fees in instalments - this is where your savings pot comes into it.

Seriously I would not apply for any new credit for the next 6 months - at the rate you are going the Welcome finance offer of 45% will be the best one you will get!