OK, my credit rating is, in laymans terms, completely fubar'd

Basically, missed payments on my mobile and my credit cards a few years ago, buried my head in the sand, as you do when you are young. Started paying things off now and trying to get back on track. Got a Capital One credit card that I use j7ust for fuel and payback the day the bill comes in.

However, now I want another cossie, and I think I am going to have to get it on drip But I dont think all the normal finance companies will touch me.

I don't mind paying a higher APR as I know that is what I am going to have to do. it's my fault and I will have to just suck it.

Does anyone know of any loan/finance companies that help out people like me that have been wankers in the past??

I can't wait another 4 years for a cossie

 

try welcome finance they specialise in stuff like this!!

 

your best bet is to get rid of the credit card before you try for a loan because the way loan companys look at it is that if you have a card with a limit of say Ł3500 and you only have a balance of Ł2-300 on it you can still get into futher debt so they are a bit more cauious of lending. I have recently sorted my fianances out and was told this by loan company. I cancelled my 2 cards and i then got the amount i needed to sort my debts.

Not sure if this is the same for every case, obviously depends on how much you earn as well. But it worked for me.

 

I cut my card in half mate

 

Be prepared for a rate in double figures - with the first likely to be a 3..............

 

there are other companys go to google and try there

 

I think welcome finance only deal in homeowners so you have to secure it on your home... your best bet is to go to your bank, take out a Ł2000 loan pay it off without missing a payment, that way when its paid off they will offer you any amount... will take a few years tho.

 

no they do tenants aswell you dont have to be a homeowner intrest rate is going to be high but he already knows that

 

They are only money eaters if you buy the wrong ones, or start going beyond stage 3.

I've had one before, and it was fine, the only downside was the cost in fuel, but this time I won't be using it every day

 

Once it's gone past six years (from the default date), by law, Equifax, Experian et al have to delete the default and all subsequent details from their files. In effect giving you a clean slate; regardless whether you're still paying back your creditors or not!

If not past six years, prepare to have your pants pulled down on the interest rate

 

Try doubling that and you might be close! The first loan i got with Welcome was at a rate of 72%!! Topped it up 6 months later and got a slightly reduced rate of 66%!!

DONT DO IT!!!!! They are fucking sharks!

 

I got a loan from them, and im not a home owner.......

REPEATED! DONT TOUCH WELCOME FINANCE!!!!

 

You want a high interest loan to buy a cossie? What happens if the damn thing breaks?

Bank loans for them are bad enough..

 

Firstly get an experiene / exquifax credit check done, couple of pound.

See what is what, there may be nothing on your credit score or you may have others like parents on there that shouldn't, you can get these removed easily.

If you have something on there, see if you can rectify it, as the owed company if you can pay it off under the understanding that they will remove the listing?

If you have a credit card, then your rating can't be to bad. Do you have a bank account, if so make an appointment and speak to an adviser, see if they will be willing to loan you the money.

Don't just apply for endless loans from place to place, it will go against you rating so speak to people first and get advice from them before trying them for a loan.

Do Capital One not do loans?? surely they will allow you one if they will give you a card?

Matt

 

Absolutely correct.