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    • Beaujolais7
    • By Beaujolais7 17th Oct 16, 9:53 AM
    • 4Posts
    • 0Thanks
    Bad credit help
    • #1
    • 17th Oct 16, 9:53 AM
    Bad credit help 17th Oct 16 at 9:53 AM

    I have a bad credit score 511, and 2 defaults, which is'nt good, i know. I was made redundant just over 2 years ago, I had mortgage insurance so that was covered, I had a loan which I kept up payments with, and 3 credit cards who I got in contact with and explained my situation and where very helpful. I was unemployed for a few months did a start your own business scheme via the jobcentre for a couple of months then a great job appeared and I got it. I've been in the job 2 years fulltime and paying of my credit cards, finished my loan payments, never missed mortgage or credit payments, and am better off than I have been in years, after sorting my money out.
    But my car has died and I need a loan, i have some savings but not enough to buy a decent car (would like a safe family car) the problem being I have 2 defaults from credit cards. Is there any chance I could get a loan of 2000, I have done the sums and I can budget 150-200 a month, but without it being a crazy interest loan.

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    • Pixie5740
    • By Pixie5740 17th Oct 16, 9:58 AM
    • 12,114 Posts
    • 17,061 Thanks
    • #2
    • 17th Oct 16, 9:58 AM
    • #2
    • 17th Oct 16, 9:58 AM
    There's no such thing as a universal credit score. That 511 is just a marketing tool from one of the credit reference agencies (none of which lend money I might add), not lender can see it never mind use it.

    The cheapest way to borrow 2k will probably be a money transfer credit card. You can try the MSE Credit Card Eligibility Calculator to find out how likely you are to be accepted for one.
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