Guys,

WHeres a good place to get a small loan for poor credit? theres a few companies on line but they dont have a phone number so they dont seem trusting

...and to think this time last year i was in a position to buy a mk2 frs and its not even my fault

 

dont bother. seriously.

you WILL get raped on APR and be paying through the nose.

just save instead.

 

i have no choice mate, car wont sell only need to borrow £1500

me trying to save isnt happening

 

have you tried to increase you overdraft instead mate ?

 

i cant even do that, account is with collections until i pay that o/d off

Just tried webuyanycar.com and its offered me £460

 

kam - i wouldnt bother with poor credit loan companies - they are sharks mate.

find another way to raise the dough

 

ok Ran i cant think of other ways,

anyone want to hire my A$$

 

stick the car on ebay with no reserve, free listings this weekend too

then save the rest, if you dont mind me asking, what do you need to get the £1500 for??

 

if i list on saturday it will be free?

cheers

 

maybe free for the listing but dont forget about the final value fee that they rape you on

 

cheers mate

 

DONT DO IT!!!

These loan companys are a load of sharks, they charge massive APR's and bum rape you when/if you miss payments.

 

kam your thinking like a desperate person rather than using your head.

now use your head.....

 

Mate, the APR is something like 2300% on some of these loans... do you not have any mates which are in a position to help short term? Possibly a familly member?

Sorry to hear you're in this situation, annoys me that these loan companies prey on people who are desperate and completely fuck your arse for the pleasure.


Cheers,
Grant

 

Grant yeah its messed, my bank natwest are useless, they are the ones that have cornered me...

warrenpenalver - i duno what to do... ebaying the car could help

 

all banks corner you and me thats how they are so successful

 

cant offer any advice but get ready for a lot of people talking down to you and telling you how to live your life on here.

 

Strip the car then sell all bits on, cutt shell up and get rid, then report it stolen and get some cash from insurance company

But then again thats dodgy as fuck so maybe dont bother

 

LMAO, You mean the reason why everyone always get more money breaking old cosworths!!!

 

Seriously fella, I work for NatWest bank, and if you have gone to collections with my lot you must have done something quite serious to warrant it. I look after businesses and I don't send many to collections, and its usually to crystallize a debt someone owes and cant repay because the company has gone bust.

You say saving aint gonna happen, so if you can't save the money, how can you pay the loan if you have no spare cash to put aside to save in the first place?? Where is the money gonna come from pay it back?

Your account has already gone to collections, which means somewhere along the line, the bank has given you a facility of some description and you have either not kept up with the payments or just abused it, but then you want a company to give you more money?? It aint gonna happen when you have something like that on your credit file, you have proven to one company you cant keep up with your commitments so why would anyone else give you some without bending you over and raping you on the APR?

I'm fed up with people just assuming banks and credit companies will just throw money at people, you wouldn't do it with your money would you? This is what got the whole credit crunch moving in the first place.

Rant over and flame suit on.

 

madmac, nail and head

 

everyones situation is different, i can tell you mine and im sure you will say 'shit me thats bad' etc unless your a counsellor theres no point me telling you my situation lol

seriously if you want to know then il pm you. its not a business account btw.

as for stripping the car and reporting it nicked, whats the point doing all that on a primera

 

What do you need the money for?

 

You can pm me, and I'll give you my honest professional opinion, no problems with that, and I may be able to give you some helpful advice.

But seriously, you need to sit down and look at your commitments, if you can't put money aside now, how can you put it aside for a loan?

 

try credit card companies, their apr is lower and one off fee for a transfer - they will do this to a current account, so looks like a loan - i got one from MBNA at 6.99% and had a bad marker from B Gas

some people hit situations where by they need cash and cant save, like buying a car to travel to a new job as long as future funds are there to repay the loan, then there is a valid case to lend

 

Not always, look at it this way, if you had an acquaintance who you know of by reputation but not personality, and you knew he didn't pay rent, when ever he wrote out cheques they bounced and people were after him for money and he came to you asking for cash and said they would pay you back regardless of the situation, would you lend it to them?

Its not always the reason WHY they want the money, but CAN they afford to have the money and meet their commitments? Sometimes when you lend money to people you get them into more trouble than they did before.

 

my senario is not as bad as you paint yours, you have three bad cases against yours, which turns the situation into a no go

part of the reason to lend is why they want it and if you refuse then they could be onto the loan sharks and your existing commitment to them is at greater risk

we are talking borderline cases here and not general lending

 

Seriously, there are so may factors involved in making a decision on lending money to people or not its never a simple board line case. I mean give me an example and I will tell you the considerations!

 

ok go with with what i gave earlier - i cant save and have been offered a job, but need a car to get to work and travel in the new job, once i start i can then afford to repay, i have a bad marker with b gas but this is dispute with them and im dealing with it as i do not owe them funds

once i have the new job a can afford to save

 

madmac,

pm sent mate

 

Start dealing drugs, easy money.

 

no it isnt you run the risk of people robbing you for your stash, twatting you for your stash or killing you for your stash
or you could end up doing time
complete mugs game

 

Guy up here just went down for a 9 stretch, got shot, stabbed and pistol whipped before the trial. Not my idea of easy money

 

So if I was to go to a bank and ask for a business loan (I have a business idea I want to run with) what do you think the outcome would be?
Baring in mind I have no income (been out of work for more than 18 months and I don't sign on) I have a child benefit that comes in each month and that's it. My argument would be that if I could get the business going would have my income to be able to take any payments out. I don't have any money saved (don't get much to save any) and I am always at the top end of my overdraft but rarely go over it.

What do you think my answer would be? lol

Oh and btw I called yes loans before and they are full of crap and pass out your number to every Tom, Dick and Tosser so you get so much crap rom them too. But there apr wasn't too bad and I have seen much worse.

 

eoeume

base your approach on the Campari list below, which should be included in your business plan, you should prepare for the questions below

C Character. Does your bank know your business? Or, if you are setting up a new business, then does your bank at least know you? Businesses can't be run in isolation from their owners. If you have an existing account with a Bank which you have run well over a number of years then it could improve your chances of getting a loan as they would know that you are a trustworthy character.

A Ability. Can you demonstrate that you have the ability to run this business? Do you have qualifications and experience? Can you manage the business? Do you know how to manage your finances, market your business and make sales? For existing businesses, have you run the business well in the past?

M Means. In financial terms what other means do you have - or not have? Are you stretched financially or have you got other assets?

P Purpose. What do you want to borrow the money for? Banks are reluctant to lend money to businesses so that the owners can draw big salaries! There needs to be a clear and beneficial business purpose for your loan application.

A Amount. How much are you asking to borrow? Is it enough? Is anyone else making a contribution to the cost? If the bank makes a loan to the business will they have a bigger investment in it than the owners?

R Repayment. How will the business make the repayments? Can it really afford them out of profits and will it generate enough cash to make the repayments regularly and on time?

I Insurance. This means what security can you offer? If everything went wrong how would the bank get its money back?

I Interest. Interest rates will vary depending on several things. The current base rate, the security you can offer and also how good your business proposal is. The bank will want to calculate how much interest they could charge.

C Commission. Most banks will charge some sort of arrangement fee for setting up your borrowing facility.

E Extras. The bank might also take into consideration what else it might be able to sell you

not dragons den, but close

 

www.payplan.com

got issues with debt, CALL THEM

if you cant pay back a debt, then there ARE ways of dealing with it that dont get you into worse trouble!

payplan helped me sort my finances out massively!

 

Ok, this is a tricky situation. If you have run your account with your existing bank in a manner whichs shows you have an ability look after your money, ie, you overdraft is used minimally, you pay it off, you have had regular income in the past, you don't return items or go over your overdraft limit, then you may find the bank may pre approve a loan for you. However, you do have to have a spotless account to get this. Out of my customers maybe half can get this.

If however you don't have this and certinately if you have been out of work(?) and haven't had income for a while then most certinately it's going to go to credit search. Now, remember, whil the bank does a cross check of the credit reports they do not get told what's on it. Now if B Gas have put something on your file it will just show up as someone has registered something, not who, what, or he much, and that will pretty much destroy your chances. You need to get that sorted as soon as poss.

But, it's not all a no, if you have a mortgage, then you have an asset to back up your loan, which helps. Also, it's probably best to, rather than go to your bank go to a company such as Lombard, Black Horse or finance throu a dealership. The simple reason being that your loan is secured against the car, if you don't keep up with your payments they just take the car. However I can't comment on their criteria because it varies, but the would be a better option than an unsecured loan from a bank.

 

r06ert, very good response because thats exactly how banks look at business applications.

New start up businesses are very high risk, of you have a history with the bank, a decent credit profile, and a robust business plan based on the CAMPARI and ICE assessment then you do make things a lot easier for you.

At the end of the day, Banks are not venture capitalists who are willing to take risks, Banks don't really like too much risk. The main crux of your application would probably be you have been out of work, if you don't have any savings or assets to back it up, then that will hurt your application.

Ultimately the first port of call will be credit history if you don't have an account with the bank, if that's good you could potentially walk out with a business account with a £10,000 overdraft or loan. I have done that for a few customers in the past. If the initial application declines for the amount you need, then we can take your business plan and refer it to our credit office. If your plan is good enough and you have submitted evidence to back up your plan then again it could be approved and they will look at it as per the CAMPARI & ICE. If that fails then you have to look at other means.

 

Try provident, apr is high, but jsut pay them weekly / monthly when they come round. Short term fix tho, not a long term one. there's load's of payday loan places on the net, payday bank advertises on farmville ffs If you have a bad credit rating no bank will touch you. There are loan companies that will charge you a brokers fee to find you a loan, put you may as well put 60 of the queens english pounds on the floor and piss all over them.

 

Madmac is spot on. Everyone's situation is different, but people need to realise banks aren't running a charity. Why would a bank lend money to someone who evidently can't pay them back? Most people just want loans now to get by - in other words, to keep up a certain quality of life(consumption) - in the short-term, without considering the fact that they need to pay it back... With interest! Without knowing your situation exactly it's difficult to advise, but just consider whether you really need this money, or whether you can just take a bit of pain and deal with the problem at the source rather than pushing it down the road.