Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

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

    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.

    Regards
Page 1
    • Pixie5740
    • By Pixie5740 17th Oct 16, 9:58 AM
    • 12,114 Posts
    • 17,061 Thanks
    Pixie5740
    • #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.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,019Posts Today

6,182Users online

Martin's Twitter
  • It's the start of mini MSE's half term. In order to be the best daddy possible, Im stopping work and going off line? https://t.co/kwjvtd75YU

  • RT @shellsince1982: @MartinSLewis thanx to your email I have just saved myself £222 by taking a SIM only deal for £7.50 a month and keeping?

  • Today's Friday twitter poll: An important question, building on yesterday's important discussions: Which is the best bit of the pizza...

  • Follow Martin