Clean It Up
UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: from edge2edge on September 24, 2009, 03:44:39 pm
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Evening gents/gals due to a company going into receivership owing me £6k and not paying me i find myself effectively blacklisted by the banks etc .The thing is i am seriously considering buying a prowler as a step up from my powerflite(top machine though it is)and would need about 4k on finance does anyone know of a legal and secure way i might be able to secure such a loan.Any suggestions appreciated as always.Alan(swindon)
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Get an interest free credit card and buy it with that. You will probably have to pay the card fee that John pays then I can't see why that wouldn't be a goer.
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if he has a bad credit rating ( no banks have lists coloured black or any other colour) then he won't get a credit card,
a bad credit rating comes from defaulting on other credit cards or loan agreements or not paying bill leading to CCJs.
if this is the case Alan then you are pretty much screwed unless you go to a specialist lender who will charge a massive APR
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If you have a decent vehicle, and there is no loan owed on it, there are companies that will lend against it. Provident may help (at high interest), but not for the full £4,000.
Dave.
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My mate works for Provident he got another one of my mates a loan for a car the loan was £1700 hes paying back £2900 over 56 weeks robbing b@st@rds.
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Well guys i cant get a card and i lease my van(just got up to date with the payments again).I recently bought a thermadryer and luckily i have done loads of business with the supplier and he allowed me to pay about a grand of it over 8 weekly payments.It has proved a great investment as i use in on commercial work to great effect.I dont want to be paying silly money but feel the step up to the prowler is about due and my finance record aint gonna change to wonderful for many a year(the blacklist you for ages apparently).Regards Alan
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Alan
Maybe it's a bad idea to get one just yet? :-\
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i would repost this on www.moneysavingexpert.com forums page. explaining in full ur situation.the advice will come thick and fast from experts who can help you through it.
bazx
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Alan
Your a good guy. The answer to this is simple. You can't afford to do what you want to do. Set yourself a plan to put you in a position where you can. If you want it enough you will do it.
Pete
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Thanks Barry I’ve got savings with XX and xxx totally unaware they were apart of the same group and registered as one hopefully I wont cause a run on the banks.
Len
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edge2edge, as Mike Halliday already pointed out, there is NO SUCH THING as a 'blacklist' and don't anyone let that word cloud your thinking. We all have a credit rating. Lenders who do credit checks will look at your credit rating and will arrive at their own unique personal decision as to whether or not they will lend you the money.
It is fair to assume that with your unfortunate circumstances you will have difficulty obtaining credit, but i guess it is worth a try as each lender will decide for themselves.
As for provident, i too had a friend who ran a provie scheme. I have to question the comment that they are 'robbing wats-its' for the simple reason that Provident cater for a high-risk market. Many, many people sadly default on provie and the reason they went to them to begin with was because all other avenues of credit and money lending were likely to be unwilling to help, due to what is termed a 'poor credit history'. As such, the repayments are very high and have to be to make it work as a business as the payers are subsidising the non-payers.
No one would expect us to run a business purely to make a loss or only to serve the needs of the public. Provident is no exception. They are merely supplying a gap in the market. And no, I don’t work for them and I’m not fighting their corner, I am simply attempting to fill in the gaps in people’s understanding.
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Shame they didn't go bust then and the taxpayer could bail them out after years of cashing in on the desperate.
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Speaking as i find, a lot of my friends provident clients were far from desperate. She went in and out of people's homes doing her job, and she saw where the money was being spent ::)
Added to which, she didnt exactly have to or need to do the 'hard sell' as there were plenty of willing customers.
It is a matter of opinion, but we are all 'cashing in' on different members of society at some point in some way. I fail to see why businesses who are willing to lend money to those who are considered a high-risk sector sector should be made to charge less than they do. If they were into the business of low-risk low-interest finance then they'd be amongst all the other lenders who offer these services. The point is that they don't, they chose to take on high-risk customers and fill that gap in the market.
Everybody has to pay for somebody; when you buy insurance you're really paying for everyone else, including the fraudsters. Its the way of life and sadly provident 'works' by charging enough to cover what it will lose.
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OK they weren't desperate they were high risk. ::)
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Guys thanks for all the replies much food for thought.Regards Alan(swindon)
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If you get a £500 loan of the Provident you pay back over £800+ to me thats to much the majority of provident customers are on benefits so to me they are robbing b@st@rds.
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If you get a £500 loan of the Provident you pay back over £800+ to me thats to much the majority of provident customers are on benefits so to me they are robbing b@st@rds.
Well you are of course entitled to your opinion. I can't argue with those. Equally you will surely understand my lack of sympathy for the customers of Provie.
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A large amount of the Providents customers are also OAP every 2nd monday i clean the windows in a local shelterd housing the women from the provy is in there most of the morning when iam there and to charge that kind of interest for pensioners is a joke
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As i said Darren, we are all allowed our opinion. On this subject ours differs. There is no right or wrong answer.
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No probs vacman.
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Vacman
The point is not they need to charge more interest because they are risky (sub prime), it's because they shouldn't have been lent in the first place, This is why the world economy is in the mess it's in now because a few greedy people took risks and collected right up until it went tits up and we, not them, are paying the consequences for the next decade.
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Mike i totally disagree with you. The lenders who have gone belly-up were lending to what were actually considered a 'good risk'. The downfall was the amount which these people were allowed to borrow. And quite frankly, the borrowers have to accept some responsibility for that as well, but of course in this 'blame culture' of ours where no beggar is capable of saying 'i am at fault too', you don't her people admitting it.
Provident has been around for donkeys years and was always aimed at its niche market. So have Brighthouse for instance. They too have their own policies, prices, and ways of dealing with their business. Lots of shops have closed down recently, Brighthouse is not one of them. Have you heard of Provie or Brighthouse leading the world to hell in a handcart? As yet i haven't.
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Yeah, whatever. ;D
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CCJ's (county court judgements) and Defaults stay on your credit file for 6 years.
Dave.
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Yeah, whatever. ;D
Yes, if in doubt, apply the 'whatever'. ::)
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I applied the whatever because I there's no point trying to talk sense with the deluded. These companies in my opinion are basically using the same mechanisms loan sharks use except they wear suits and have flashes offices.
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Mike, i am not deluded on the subject, i happen to have an opinion on it that differs to yours. Yours is not the only answer.
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Sub prime is exactly what its says. They are customers who wouldn't normally be considered for credit. The banks and finance companies are greed driven and weren't happy with the billions in profits they were making from good customers they decided to start taking risks with customers they would have not normally touched with a barge pole.
In America, once the mortgage lenders got the green light to do this they were like rabid dogs. A lot of them were in partnership with slum landlords and callouded to offer their tennants the chance to buy the property they were renting with the lure that the mortgage payments were lower than the rent they were paying. The areas they targetted were primarily Black and poor White areas.
What the numptys didn't tell them was that the mortgage rates were capped for 2 years and after 2 years they went a lot higher than what they had been paying in rent. This was done on a huge scale and ran into to Billions of Dollars. Consequently hundreds of thousands of them defaulted and were reposessed.
Guess who then bought the property back at a cheap price, the original landlords.
In the meantime those mortgages were packaged up as class A investments and sold on the world markets. Again the greedy banks that bought them didn't do due diligence and got their fingers burnt. This is the crux of what caused the crash and what annoys me is apart from a few individuals nobody has really been brought to task. In the meantime all of us and our children are going to suffering for decades to come.
As regards door step credit agencys my sister used to work for one in the office. Their customers were the dregs of society and charged rediculous rates but what boiled my p was before Xmas they organised toy fairs where their customers would go and pay nearly double for toys for their kids, all on credit. And worse was the agents used to buy wholesale jewellry and tout this to them on the premise it was only a quid or two a week. Scumbags the lot of them.