Searching

herman1rg
herman1rg Posts: 3 Newbie
in Loans
Hello newbie here

I have a question, I am in receipt of a Teacher's pension payment every month as a Widower of a Teacher.

I want to use the approx £200/month to finance the repayments of a loan for £10,000, my credit rating is not the best any advice on the best companies?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    With that kind of income and a poor credit history, you won't be getting a 10k loan.

    Do you have any other income?

    Thanks
  • herman1rg
    herman1rg Posts: 3 Newbie
    Of course, I have a full time job
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    Whats the apr of the loan ?

    Hard to give a list of companies for you to apply for as you might not even be able to get a loan.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    herman1rg wrote: »
    Of course, I have a full time job

    Then the pension by itself is irrelevant. What is your income and why is your credit history poor?
  • herman1rg
    herman1rg Posts: 3 Newbie
    Why is it irrelevant?
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    Combo Breaker First Post
    herman1rg wrote: »
    Hello newbie here

    I have a question, I am in receipt of a Teacher's pension payment every month as a Widower of a Teacher.

    I want to use the approx £200/month to finance the repayments of a loan for £10,000, my credit rating is not the best any advice on the best companies?

    no, no one will give you a loan on the basis of 200ppm pension

    however, you may get a loan based on your total income and your credit records
  • DCFC79
    DCFC79 Posts: 40,598 Forumite
    Name Dropper First Anniversary First Post
    Whats exactly on your credit file ?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    herman1rg wrote: »
    Why is it irrelevant?

    Because credit is determined by total income (and credit files) not by a sub set of income.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards