Poor Credit Loan

[Razza100]

Does anyone have any first hand experience of gaining a loan with adverse or poor credit history.

I know I can do a search etc... but better to hear from first hand experience..

[Loosehead]

I don't have direct experience but I know that the reason someone has poor credit is that they don't pay. Would you lend money to someone who doesn't pay? No you wouldn't. There are some loan sharking outfits but in all honesty it's better to save up. Do not use a loan finder company they do not do loans they simply take your money as a "fee" to try the impossible, ie find someone to lend you money then keep it when they can't find a lender.

[WendyS]

if you have a poor credit history, it does rather suggest that you haven't been able to handle your finances well in the past, possibly either by incompetence or possibly bad luck. Rather than tread the same path again you might be better advised to save up for what you need(unless it's a mortgage of course) until you can afford to pay cash. Having material things isn't necessarily a right if you can't afford them, which is the mistake so many people in deep debt today have made. If you find somebody who will loan you money you will probably have to pay a very high rate of interest and effectively end up paying twice for the cost of it. Ask yourself "Do I NEED it or do I just WANT it? Get yourself a tin, give up smoking, drinking, clubbing (or whatever vices you have) and put the money you save in the tin. See how much you've saved after a month. You might be surprised!

[dawg_kane]

im sorry but i think that its very unfair to assume someone does not have the right to a loan because they are no good at their finances, yes it would be great to save up every month but in the real world there are times when a lump of cash is desperately needed...i ended up out of work through no fault of my own and ended up falling into debt because i couldnt manage to finance my outgoings, only now have i been able to get more credit.

the answer to the first question is dont go through a loan finder company they are a rip off, they charge u money just to find u a loan which very often doesnt go through and u are back to square one.

my advice if you need a loan and have poor credit is to try welcome finance or black horse, both companies will assess you as a person and not as a number in a computer system....and u can build up your credit rating at the same time...the only down side is that the apr is quite big, the price u have to pay unfortunately, it all depends how desperately you need the loan.good luck