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Loans

  • 19-04-2019 10:59am
    #1
    Murdie45
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi all

    I have bad credit and only one working in my household and no bank will give me a loan and how are you supposed to get your credit rating back up if none can give you a chance. I have no savings or credit union savings. Is there anyone out there that will give a loan or help you get it.


Comments

  • #2
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    Not meaning to be smart or mean but you’re not a good candidate for a loan.

    You need to start saving somewhere and it should be at least the value of the loan repayments that you’re looking for.

    The credit union is probably your best bet but you’ll need a history of savings with them.

    Stay away from the high interest money lenders, you’ll just get stuck in a spiral of debt.


  • #3
    Murdie45
    Registered Users, Registered Users 2 Posts: 4 ✭Murdie45


    Hi

    Thank you I know but its hard to save when your only one working and life gets in the way. Every week there is somthing. I am trying to do that but find it hard and just need a loan to pay off old debts and one payment going out.


  • #4
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    Probably worth your while speaking to MABS, they might be able to help you speak to your creditors and get them to renegotiate your payment plans.

    Have you tried talking them yourself? If you do they may suspend the interest for a while or let you enter a payment plan that reduces your current monthly payment (but extend the term).

    Try and focus on the debts with the highest interest and pay this down as quick as possible.

    If you open a dialogue with creditors they’ll try to work with you so don’t be afraid to call them and explain your situation, you might be surprised how accommodating they can be.


  • #5
    endacl
    Registered Users, Registered Users 2 Posts: 22,412 ✭✭✭✭endacl


    Murdie45 wrote: »
    Hi

    Thank you I know but its hard to save when your only one working and life gets in the way. Every week there is somthing. I am trying to do that but find it hard and just need a loan to pay off old debts and one payment going out.

    Talk to MABS. More borrowing isn’t the answer to your problem.


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