A bit of advise, please...????

malibujodie

Hey All,

I am new to this website and wondered if anybody could give me a bit of advise on applying for a loan with my bank please?

I have a very basic current account with whom i bank with, Natwest. I have been with them for about seven months now after having a terrible time with LloydsTSB.

I am now in search of a loan for the amount of £2,500. I have an appointment with the bank on monday, to doscuss the loan with themselves, i am just a tad worried though, as i have a TERRIBLE!!!! Credit rating. My credit rating is that terrible that the likes of Welcome Finance won't give me a loan and the only type of bank account i am able to apply for is that of a child under the age of 16!!! Although i have no CCJ's registered against my credit file, i do have recent defaults (on lloydstsb accounts) and many of my accounts i.e store cards, catalogues, have been passed to debt collection agencies. My credit rating being so bad is down to nothing but my own cockiness and youth, trying to get one over on my credit companies and avoiding payments. I am now unfortunately a little older and wiser and have realised that you cannot hide away from creditors and am slowly paying small amounts to my accounts as of december last year.

As i said earlier, i have an appointment with my bank on monday to discuss the loan and hopefully apply. Now i am hoping that if i am as honest and open about my credit history as i can be, and explain to them that within the next 2 years i will be eager to apply for a mortgage (hence the reason i am trying to sort my finances out!) they will be able to help me.

Any advice would be greatly welcomed and appreciated.

Many Thanks

~Beanie~

I wouldn't get your hopes up I'm afraid. If you can't get a loan from people who specialise in people with bad credit, NatWest are unlikely to help.

What is the purpose of the loan? Do you really really need it or can you save up for whatever you want?

malibujodie

Thank you for your response.

unfortunately i really really need it. I'm not getting my hopes up but fingers crossed they will do something for me.

malibujodie

If not are there any companies anyone has used in my position which may be able to help?? Many Thanks.

CLAPTON

only as absurd rates of interest and even then they may not lend you anything.
save up instead.