To Ask....

[FallenMum]

...if anyone could please recommend a reputable and fair private money lender / lending company - for a substantial unsecured loan?

I am in the process of making a financial claim on behalf of children for capital and maintenance payments - against my son's father.

I need 5000 pounds urgently (to retain a solicitor) and I am able to repay
500 pounds every month, and eventually the outstanding, when the maintenance is awarded.

I have tried to get a Litigation Loan from my bank but was not successful because I dont have tangible assets.

Please kindly send me a PM if you know any reliable person or organization.

I'm in London.

Thank you.

BUMP

I have a 10k loan with tesco loans, would that be an option?

Would it be an option for you to borrow from parents rather than get tied into a credit agreement?

Thank you.

TESCO - I'll give it a go - but I expect they will require collatarel and an income source.

It's just me.....no parents around.

Tbh, any responsible lender will require an income source and/or assets as collatoral. No-one in their right mind will lend on the basis that they'll be paid back out of a court settlement which may or may not arise (what happens if you lose?).

Unfortunately you are likely to be in high interest loan territory, and I'd really really advise against that.

The only other thing I can think of is if you know anyone who would be prepared to act as guarantor (i.e. they undertake to reply the loan if you cant)

Please, please, please do not go down the money lender route. The interest rates are extortionate and a lot are less then reputable. Can you not negotiate something with your legal representatives so they are paid when you get the money? If your case isn't strong enough for them to do "no win no fee" then you should really consider whether or not to proceed. Remember, getting a judgement in your favour and actually getting the cash out of someone are two very different things. If you haven't already done so I would start with the CAB for some advice.

At this point, it seems i'm running out of options.

The case is a valid one, there are precedents that serve as guide for possible settlement and my Solicitor is confident of success. The firm doesnt do a "no win no fee" basis.

I may have to see if I can get a guarantor.

Thank you though.

Good luck - hope it all works out for you.

Have you tried zopa?