Homeless because of bad credit?

[pinnjnnn]

I can't find anywhere that will rent me a house as I have bad credit and fail the credit checks
I work but my credit history is bad.
Nobody I know owns property so can't be a guarantor
What am I meant to do?
I'm gonna have no where to live
Can these letting agents do this?

This thread is almost 9 months old @TWOOCLOCK

Zombie thread

Htf would someone just stumble across this?

Argh I didn’t check it!

I got a car loan years ago to be able to buy a car.
I got it through welcome finance and it's £250 a month ..the car was worth £4,500 and I'm paying back over £11,000

I'm afraid that this shows that you lack financial capability. You're paying more than 2.5 times the value of that car, which will be next to worthless before you've finished paying for it.

Welcome Finance have gone into liquidation, iirc a lot of their loan agreements were unenforceable, and they were a finance co known to lend to high-risk borrowers.

Have you started a PPI claim? The compensation scheme has paid out a lot on Welcome loans. You might get enough back to put a chunk towards rent in advance or pay off a big chunk of your debt.

You need to work (take a second job if you can), save and clear your debts. Then you can start rebuilding your credit history: take out a credit card like Aqua, which even people with poor credit can often get, use it for everything for a couple of months and pay it off in full every month. Then do the same with a cheaper interest card.

There's loads of advice about how to do this online.

It's harsh, but the combination of bad debt and renting is a toxic one and this is the only way of overcoming it.

I am not sure what you are getting at? ...so what ? its still relevant - yes I searched threads about debt . I am getting through a hard time & out the other end & was having a tough day & thought I might find some helpful posts. I am not hiding from it - I didn't get in debt because of feckless spending on treats & holidays - however there was a lot of judgements made in the posts & I just wanted to say that compassion goes a long way. Since having problems, I have met a lot in the same boat & some are handling it better than others. I agree - get help - sort out a plan . Some people are luckier than others with a good wage coming into the house - its not always as straight forward for others.....just saying.....

I really don't understand.... So you take home over £1.1k, you pay £850 in rent and debt, you have over £250 a month SPARE! If, as you've said above food comes to £100 each a month, then you still have £150 a month spare to add to your debt payments.

Plus, you say renting is so cheap in your area, your mum rents through HA, yet you pay her £300 a month, surely she is making money out of you?

And somewhere above you have argued when people mentioned expecting others to pay your way, however, you are expecting your creditors to write off or reduce your debt when you reach a certain level.... Uh.... Hmmm?!

Live at home, plough everything into your debt, then move out.

I have debt, I had a lodger in my rented flat and got pregnant by accident.... What would have been paid off within a year is now still outstanding, and although reduced, two house moves later (landlords decided to sell so was forced) and another 4years passed and I'm still in debt!! If I could have got shot of it before I would have.

I rent a 1k a month flat in London with my partner, and that's not including bills. I earn 1.6k a month and have plenty left over to enjoy myself. I don't think the issue here is that OP doesn't have enough to afford a flat, it's that she doesn't have the start-up costs or an adequate credit rating to move.

Debt happens to everyone. When I applied for my flat, I was still paying off a 1.5k overdraft and I got accepted anyway. I've never not paid my rent on time ever. Maybe if you spend a few more months paying down the debt and saving some money, then look for private lets rather than ones through letting agents, you might have more luck OP?

Oops didn't notice zombie thread

I didn't even understand the term "zombie thread"! ..I just searched for posts about debt....& this came up. I didn't know I shouldn't be posting on it. Apologies for any offence - but hope all these new posts are helpful anyway.