Help Need A Guarantor Loan

donnasmooch

Hi everyone I want to take out a loan for about £10000 but my credit rating is rubbish and I am a student so not working I want to use the money to clear all my existing debts i.e. car finance and 2 small loans I took out with a high APR. my mum has said she will go guarantor for me no problem and she owns her own property and works full time. I will be able to make the repayments ok as I have other money coming in tho not a wage. I have been on a few loan calculators and the repayments would be about £200 a month for 5 years but I cant find a company that will give me a loan for this amount with a guarantor and I cant get a loan from anyone without a guarantor so does anybody know of a loan company that would help me?

Rafter

donna,

Your best bet is going to be either your current account provider or your mums. The rate will probably not be as good as some of the best buy calculators your have tried.

The best rate would be if your mum took out the loan and indeed, if you have no regular income, no loan company may be prepared to touch you.

Are you sure that consolidating your debts is the best option? Might be worth talking to citizens advice, cccs or your student welfare office about your options.

R.

CLAPTON

She could simply take out a 10k loan in her name and lend you the money. Obviously if you default she loses her money but that also true if she was a guarantor.
She should only do this if she can afford to lose the money.

mcdave_2

I am new to this and not sure where to post from. I know this isnt a reply really but as i said not sure where to post. Am in need of help and dont know where to go or who to ask. I am currently workin full time and have an incredibly horrible credit rating. I previously took out a small loan and was unable to pay it back due too high repayments..now im even further in debt and am sinking fast. I have found a place that will give me a small loan but i need a guarantor but i do not know anyone here that is able to help me out so i cannot get the loan without the guarantor. If anyone has an idea or something that may help me PLEASE let me know as i dont know what to do anymore.

CLAPTON

go to the debt free wanabee board
read the sticky for first time posters

then post up a full SOA and your details

see you there

kazbo75

mcdave wrote: »

I am new to this and not sure where to post from. I know this isnt a reply really but as i said not sure where to post. Am in need of help and dont know where to go or who to ask. I am currently workin full time and have an incredibly horrible credit rating. I previously took out a small loan and was unable to pay it back due too high repayments..now im even further in debt and am sinking fast. I have found a place that will give me a small loan but i need a guarantor but i do not know anyone here that is able to help me out so i cannot get the loan without the guarantor. If anyone has an idea or something that may help me PLEASE let me know as i dont know what to do anymore.

hiya who is the loan company that you found

Rob_192

kazbo75

You are refering to a post that is over 2½ yrs old, it's unlikely the poster is going to respond.

R