loan sharks/bad credit loans

[ceedee1951]

We are often told to avoid using Loan Sharks, but for people who are at the bottom of the 'pecking order' regarding income and credit rating, these are the only types of lenders available to them. I have tried searches of the internet trying to find 'lenders of last resort' or a directory of outfits like 'Provident/Greenwoods/Shopacheck' but there does not appear to be one around. I am trying to compile a list of genuine lenders of this 'ilk', for publication on the web-any one know of any 'outifts' like these - either regional or national?? There also appears to be an abundance of 'guaranteed loan companies' advertised on the web and in spam mail that I have received-but they are purely 'email address gatherers' and farm one off to another company, then to another & etc. and people are still being contacted a couple of years after applying!!

As the government won't publish a list-I wlll - with your help!!!

Many thanks, in anticipation

[aristotle]

People in this situation should check whether they have a local Credit Union which can provide loans at much lower interest and without the same requirements re-credit rating. Many are affiliated to ABCUL so their web-site is a good place to look www.abcul.coop .

[ceedee1951]

Thank you for your answer. I have done some research of Credit Unions and have found that they are 'patchy' in coverage and most are dependent on 'trade afiliation' for membership. Additionally, a lot are now using credit reference agencies (thus making them equal to banks, loan companies, credit card companies & building societies), which in my opinion defeats the object of what they were set up to do!