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Unsecured loan for a discharged bankrupt?

Last post Sun, Aug 24 2008, 9:28 AM by ex-banker. 1 replies.
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  •  Sat, Aug 23 2008, 3:59 AM

    Unsecured loan for a discharged bankrupt?

    Hi all.

    I was declared bankrupt in June 2007, and discharged a year later in June 2008. I immediatly opened up a step account (really basic with just a solo card) with Natwest. I would like to take out a small unsecured loan. I have been employed in the same job for over 9 years. I am a private tennant and am on the electrol roll. Have been at my current address for just under a year, previous address for 2.5 years.

    The reason I want the loan really is to re-start my credit rating. I would love to get a mortgage in 5 or 6 years but I think with no credit history that would be difficult. I am not after a lot, £1000 or so. To be honest I have tried lots of different places, even company's on here taht specialise in 'bad credit', but I keep getting turned down. I also tried capital one for a credit card, but no luck.

    Has anyone got any ideas, I don't even mind if it is a store card to start with, but I don't want to keep getting turned down as I am sure that goes on my credit file as well.

    Many Thanks, Dave.

    • Post Points: 20
  •  Sun, Aug 24 2008, 9:28 AM

    Re: Unsecured loan for a discharged bankrupt?

    Have you considered the prepaid cards that come with a credit repair facility?

    If you need a loan then, in your circumstances, building a relationshipm with a credit union is probably a good starting point. DO that, go the prepaid card route and you've probably got the best of both worlds.

    • Post Points: 5