loan for not-so-great credit?

[justgirl]

Hi all...i have wrote and re-wrote this post a hundred times but I end up an emotional, rambling wreck...so im just cutting to the point which is does anybody have any recommendations for loan companies for people that don't have great credit?? I am not sure how much longer I can cope with the stress :-(

Secured loan (what against?), unsecured loan? How much over how long a period of time? Have you been with your current bank for many years... they may lend to you as they have more of your history.

Avoid short term loan companies unless you really only need the loan for a couple of days.

Lombard used to be good but alas they stopped doing personal loans a few years back. So I would say approach your current bank, see what they can do. Have a realistic payment plan, make sure you can stick to the payments.

justgirl, do you need a loan for planned spending, or are you just trying to pay off debt you already have?

Unsecured as not enough equity in our house so secured is out.

Looking at 15k over around 6 years.

I imagine it will have to be solely in my DP's name as I am currently a unemployed after being made redundant from NHS.

It is mainly paying off other debts, with a bit extra on top, to get us ahead of ourselves on our bills and mortgage rather than stressing every month.

Consolidation/pay plan type things will be a struggle as 3k of debt is in overdrafts rather than a simple CC and some the debts is heading our way but hasn't got to is yet (various problems beyond our control have landed us OVER the overdraft....so when we moved DP failed to contact elec/gas companies, council tax etc. So we've been living here since begin dec without paying them, so we know we will owe them money but not much good contacting them right now as have nothing to pay them with!!!)

I am hoping for a manage my payment of £250/£300 approx a month..... I can't stand the stress as worry of being chased....of we have a loan....we aren't in "trouble" with anyone...it's arranged, organised and manageable - at the moment I feel sick and generally extremely ill with stress and feel like a break down is heading my way

Are you sure another loan is going to help you? Generally the pattern is that people take out loans to cover the debts and get ahead, but then they don't really get to grips with why they have the debt in the first place, so they end up in another 'fix' a year or two later....

I'm not criticising - I've been there with disasterous results (BR) and come out the other side. At the time, though, I couldn't see that the issue was the spending what we didn't have - I just thought that if we could consolidate, we'd be ok.

Lougle you are more than right to ask....but yes, I am at that point. We did overspend but a lot of debt wasn't really to do with that (it's a whole other thread, to be honest!)

I know that this is what we need, and I know that I will never allow is to be in his situation again....I just can't get out to begin with.

Ok, well then you want to start with the lowest interest rates you can find. Loans for poor credit ratings start at around 25% APR and rise to massive amounts 300% APR or more.

A £15,000 loan at 25% APR for 6 years will cost you £404 per month and will cost you £14,000 in interest, so you'll pay back just over £29,000.