Who will lend me money?

I'm not talking friends or family. 4 Years ago I was £5000 in debt, and for some reason I thought credit cards would help...dumb right, but I was desperate. over the past 4 years I have got the £5k down to £2k. but I need help clearing the last bit off, as any money I put towards it each month is barely touching the interest rates. I have looked on various websites and calculated from their APR's that if I was leant £2k by a bank, then I could clear all existing debts, and make one payment a month of £250.00. I know it sounds stupid to borrow money to clear debt, but I currently owe 4 different companies, all adding their own interest. the money I have after important bills then goes against these payments. but once interest hits I am only paying about £10 per month off the actual total owed. Where as one loan from one company would be easier and quicker to pay back.

I know my credit rating has been improving over the months, so I do not want to just aimlessly apply for loans, for my credit report to be searched, for it to effect my score.

I just wanted to know if anyone has applied for a loan with a bad credit rating and was accepted.

I am not interested in pay day loans, or dodgy companies. I just want actual professional companies; mainly banks.

Update:

I tried to pay £250 each debt at a time, but I couldn't afford this as well as payments on other accounts. plus I do not get paid a lot at the moment so majority of my wages go on important bills like rent and food. I have tried every conceivable solution but not getting anywhere. I have sold as much as I can; old clothes, books, electronic goods. the only thing I have left of value is my car, but without this I have no chance of getting to work.

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  • 8 years ago
    Favorite Answer

    Did you know you can pay more than the minimum payments on credit cards?

    Why not just pay 250 a month towards all your cards instead?

    -----

    Final note: Loans are not the way out.

    Loans only make things worse. Never better.

    You should have learned that lesson !

    Not just a saying. It's true. Loans do not help anyone out of money problems.

    Never have, never will.

    Yet, people keep believing this myth.

    All you can do is try your best to pay extra.

    Don't even dine out. No cokes. Eat ramen noodles for a month if you have to.

  • 8 years ago

    With a bad credit rating there's just no point in applying for a loan as you will not get it.You could try a credit union as they lend to people with indifferent credit records, but you may not be able to get £2000 immediately. Some lend without a history of saving otherwise you'd need to save a minimum of £2.00 a week for six weeks.You could try Zopa, but they are more choosy than they used to be.

  • 6 years ago

    This Site Might Help You.

    RE:

    Who will lend me money?

    I'm not talking friends or family. 4 Years ago I was £5000 in debt, and for some reason I thought credit cards would help...dumb right, but I was desperate. over the past 4 years I have got the £5k down to £2k. but I need help clearing the last bit off, as any money I put towards it each month...

    Source(s): lend money: https://shortly.im/Nmv3D
  • Anonymous
    8 years ago

    I will loan you the money.

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