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from edge2edge

  • Posts: 1507
Need a loan but have black marks
« on: September 24, 2009, 03:44:39 pm »
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)

Re: Need a loan but have black marks
« Reply #1 on: September 24, 2009, 04:01:36 pm »
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.

Mike Halliday

  • Posts: 11578
Re: Need a loan but have black marks
« Reply #2 on: September 24, 2009, 04:10:16 pm »
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

Mike Halliday.  www.henryhalliday.co.uk

Dave_Lee

  • Posts: 1728
Re: Need a loan but have black marks
« Reply #3 on: September 24, 2009, 04:40:39 pm »
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.
Dave Lee, Owner of Deepclean Services
Chorley Lancs. Est 1980.
"Pay Cheap -You get Cheap - Pay a little more and get something Better."

Darren O

  • Posts: 1322
Re: Need a loan but have black marks
« Reply #4 on: September 24, 2009, 05:17:03 pm »
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.

from edge2edge

  • Posts: 1507
Re: Need a loan but have black marks
« Reply #5 on: September 24, 2009, 05:37:02 pm »
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

Re: Need a loan but have black marks
« Reply #6 on: September 24, 2009, 06:03:50 pm »
Alan

Maybe it's a bad idea to get one just yet? :-\

carpetfitta

  • Posts: 45
Re: Need a loan but have black marks
« Reply #7 on: September 24, 2009, 07:43:31 pm »
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
baz long
carpet cleaner/fitter

Peter Sweeney

  • Posts: 534
Re: Need a loan but have black marks
« Reply #8 on: September 24, 2009, 08:40:46 pm »
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

Len Gribble

  • Posts: 5106
Re: Need a loan but have black marks
« Reply #9 on: September 24, 2009, 09:17:10 pm »
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
Always bear in mind that your own resolution to succeed is more important than any other. (Sidcup Kent)

vacman

  • Posts: 396
Re: Need a loan but have black marks
« Reply #10 on: September 24, 2009, 09:47:52 pm »
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.

Re: Need a loan but have black marks
« Reply #11 on: September 24, 2009, 11:03:35 pm »
Shame they didn't go bust then and the taxpayer could bail them out after years of cashing in on the desperate.

vacman

  • Posts: 396
Re: Need a loan but have black marks
« Reply #12 on: September 24, 2009, 11:34:04 pm »
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.

Re: Need a loan but have black marks
« Reply #13 on: September 24, 2009, 11:43:25 pm »
OK they weren't desperate they were high risk. ::)

from edge2edge

  • Posts: 1507
Re: Need a loan but have black marks
« Reply #14 on: September 25, 2009, 07:15:18 am »
Guys thanks for all the replies much food for thought.Regards Alan(swindon)

Darren O

  • Posts: 1322
Re: Need a loan but have black marks
« Reply #15 on: September 25, 2009, 08:31:41 am »
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.

vacman

  • Posts: 396
Re: Need a loan but have black marks
« Reply #16 on: September 25, 2009, 01:07:16 pm »
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.

Darren O

  • Posts: 1322
Re: Need a loan but have black marks
« Reply #17 on: September 25, 2009, 02:07:02 pm »
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

vacman

  • Posts: 396
Re: Need a loan but have black marks
« Reply #18 on: September 25, 2009, 02:24:19 pm »
As i said Darren, we are all allowed our opinion. On this subject ours differs. There is no right or wrong answer.

Darren O

  • Posts: 1322
Re: Need a loan but have black marks
« Reply #19 on: September 25, 2009, 03:09:11 pm »
No probs vacman.