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I Have Bad Credit Due to Credit Card Debt but Need A Car Loan

Hi there, where shall i start?

I previously had a loan through Barclays and a credit card through Capital One but, due to a change of jobs, which fell through after I had already left my job, plus the fact i moved from Derbyshire to Scotland and my father passing away you can imagine i went through hard times financially!

So, I had missed a few payments with both accounts but since then they have both been cleared off and settled almost a year ago. However, I have applied for a loan through my bank and wondered why I was refused. This was until I did an experian credit report and found that once my capital one card was finished in Feb 2011 they never changed the status from default so this has greatly effected my credit history.

Also, just to make things a bit harder, this will be my first car as I am taking my test on 9/4/12 and was wanting to know how much if any could I get?

Asked by John

Hi John, thank you for your detailed question and thanks for using the Q&A.

I can see how you've had a hard time recently and it's good to see that you're getting back on track. I'm confident we'd be able to get you at least £5000 as long as you are employed, on the electoral roll with some current clean credit history. We do have lenders on our panel that help people with past problems / defaults too.

Please apply once you have passed your test and once approved you can buy a car from any dealer in the UK. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

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