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18-09-2019, 14:00   #1
BlueBell19
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Loan with bad credit

I have searched the website for this and everything seems to be a few years old so I am asking again.

I went into bad credit with a loan when I was out of work. I went on a "Promise to Pay" and any time I could afford it, I paid more off the loan than was required. The loan was due to be paid off next year but it is now cleared.

My credit report is updated but obviously stills shows that I was in accruals in the last 2 years until I had the missed payments paid off.

Is there anyone who will loan to me with a bad history? My car is on its last legs and I fear once it goes I won't be able to afford a new one. I do serious mileage to and from work, so being without a car is not an option.

If I had been smart I should have saved all the extra money and only paid off the minimum on my "Promise to Pay" so at least I would have money kept aside but I just wanted the dept to stop hanging over my shoulders.
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18-09-2019, 14:02   #2
is_that_so
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Have you looked at the CU? You could certainly have a chat with them.
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18-09-2019, 14:06   #3
mickdw
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Id imagine you would get car finance. Dealers tend to deal with multiple banks at different rates to cater for a range of customers with varying histories.
Most have online finance applications so you can avoid the embarrassment of refusal face to face.
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18-09-2019, 15:01   #4
BlueBell19
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Thanks is that so, no I have not looked at the CU yet as I have no savings with them but it may have to be an option.

Thanks mickdw I never thought of that. I might have a look. Will it affect my credit report if I put in online applications with one or two dealers?
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