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Topic: Securing a personal loan with little/poor credit  (Read 513 times)

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Securing a personal loan with little/poor credit
« on: August 17, 2018, 02:48:44 PM »
Hey all,

So we've found ourselves in a bit of a pickle and I'm seeking advice. We've been struggling financially for a few months now with my husband's job just not paying enough. He's secured new employment (starting the 28th) paying nearly double so we will be ok (yay!) however because we've been really scraping by, our bank account usually looks pretty bleak with us dipping into our small (planned) overdraft often.

Our issue is that the new job pays monthly and the old job pays weekly. This will leave us a nearly a month with no income. Due to our account always being so sad, our bank says absolutely not to a personal loan, even with the new signed job contract (fair enough). We may be able to get a co-signer or, I'm not sure if any lenders do this, but maybe a secured loan against our car?

I'm hoping there might be some resource out there to help get us back on our feet. It's frustrating as we've done everything to get it together ourselves and we're still two steps back  :-\\\\

Many thanks in advance  :)


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Re: Securing a personal loan with little/poor credit
« Reply #1 on: August 17, 2018, 02:57:34 PM »
So sorry to hear this Dani.

Any family members able to help tie you over?

Would you be able to go pull pints in the evenings for a few weeks and get some cash in hand?

More drastic:  Can you sell the car and go without until you can purchase a replacement?


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Re: Securing a personal loan with little/poor credit
« Reply #2 on: August 17, 2018, 03:13:04 PM »
So sorry to hear this Dani.

Any family members able to help tie you over?

Would you be able to go pull pints in the evenings for a few weeks and get some cash in hand?

More drastic:  Can you sell the car and go without until you can purchase a replacement?

Thanks KF  :) We are seriously considering selling the car if all else fails, but not sure we could even do that fast enough.  We live near Glasgow and the new job is in London, I will be up here completely on my own with the kids 5 days a week so no evening job for me. Hopefully we can find something, I know we'll make it work somehow, we always do!  ;D
Settlement - Gold Priority Timeline:

Online application: Nov. 27, 2017
Biometrics & document submission: Nov. 29, 2017
Documents received by Sheffield: Nov. 30, 2017
Decision email: Jan. 25, 2018
Passport received/Approval letter: Jan. 26. 2018

**38 Business Days for the $1600 Gold Service & Refund Refused**


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Re: Securing a personal loan with little/poor credit
« Reply #3 on: August 17, 2018, 03:13:56 PM »
It'll depend on if either of you have resided in the UK for 3 years, but there are lenders with higher rates specifically for low/no credit, and a guarantor loan business as well. You'd want to pay it back ASAP but it might help for this type of scenario. I tried sending a PM but it didn't go through with a company you could check, but if you search for no credit finance you may find some options :)


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Re: Securing a personal loan with little/poor credit
« Reply #4 on: August 17, 2018, 03:18:24 PM »
It'll depend on if either of you have resided in the UK for 3 years, but there are lenders with higher rates specifically for low/no credit, and a guarantor loan business as well. You'd want to pay it back ASAP but it might help for this type of scenario. I tried sending a PM but it didn't go through with a company you could check, but if you search for no credit finance you may find some options :)

Thanks Margo! I had issues getting my last post through just a few minutes ago as well, maybe it was the site. I will google that and if you wouldn't mind trying to send that company name again, I'd really appreciate it!
Settlement - Gold Priority Timeline:

Online application: Nov. 27, 2017
Biometrics & document submission: Nov. 29, 2017
Documents received by Sheffield: Nov. 30, 2017
Decision email: Jan. 25, 2018
Passport received/Approval letter: Jan. 26. 2018

**38 Business Days for the $1600 Gold Service & Refund Refused**


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Re: Securing a personal loan with little/poor credit
« Reply #5 on: August 17, 2018, 03:24:50 PM »
Thanks Margo! I had issues getting my last post through just a few minutes ago as well, maybe it was the site. I will google that and if you wouldn't mind trying to send that company name again, I'd really appreciate it!

I also have a suggestion you might try. I have not used them as a borrower but was researching for another reason and the reviews from borrowers are overwhelmingly positive. I will pm you.  :)
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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Re: Securing a personal loan with little/poor credit
« Reply #6 on: September 25, 2018, 10:13:01 AM »
Hey guys, I just wanted to update you kind people who tried to help us figure this out as we so often never hear what happened around here! I tried every avenue suggested and we were able to borrow from a relative to get through the first month, which we have now (very nearly) done successfully! Thanks so much for the advice!
Settlement - Gold Priority Timeline:

Online application: Nov. 27, 2017
Biometrics & document submission: Nov. 29, 2017
Documents received by Sheffield: Nov. 30, 2017
Decision email: Jan. 25, 2018
Passport received/Approval letter: Jan. 26. 2018

**38 Business Days for the $1600 Gold Service & Refund Refused**


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  • Posts: 16219

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  • Joined: Jun 2012
  • Location: Wokingham
Re: Securing a personal loan with little/poor credit
« Reply #7 on: September 25, 2018, 10:18:58 AM »
Hey guys, I just wanted to update you kind people who tried to help us figure this out as we so often never hear what happened around here! I tried every avenue suggested and we were able to borrow from a relative to get through the first month, which we have now (very nearly) done successfully! Thanks so much for the advice!

Excellent news.  Glad you were able to bridge the gap.  :)


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Re: Securing a personal loan with little/poor credit
« Reply #8 on: September 25, 2018, 10:21:59 AM »
Hey guys, I just wanted to update you kind people who tried to help us figure this out as we so often never hear what happened around here! I tried every avenue suggested and we were able to borrow from a relative to get through the first month, which we have now (very nearly) done successfully! Thanks so much for the advice!

Thank you for letting us know! Glad you made it through!  :)
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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  • Posts: 3423

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Re: Securing a personal loan with little/poor credit
« Reply #9 on: September 25, 2018, 10:26:19 AM »
Hey guys, I just wanted to update you kind people who tried to help us figure this out as we so often never hear what happened around here! I tried every avenue suggested and we were able to borrow from a relative to get through the first month, which we have now (very nearly) done successfully! Thanks so much for the advice!
So glad they were able to step in and help! They don't make it easy here for new residents :(

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