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Edwin Miles. Underwriting Manager

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I was made bankrupt in 2009. I need a small loan for a car. Can you help?

Hi, I was made bankrupt in Feb 2009 and released in December 2009. I need to get a small loan for a car, about £3,500. I am in full-time, permanent employement and could get a reference from my employer.

Posted by Mike Sebbage on

Answer.

Hi Mike, we have helped many people in your position in the past as we have lenders on our panel who help people with past credit issues.

I wouldn't worry too much as the bankruptcy was 2 years a go now but it all depends upon how you've run your credit since then. Do you have a small deposit as that would help the situation?

It's also great that you're in full time employment as you'll need to prove your income with payslips. A reference isn't required. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

Me and my partner were forced to go bankrupt last oct because of bad advice with our finance...however we have still managed to hang on to our car.unfortunately we are going to hand it back to the higher purchase comp as it is far too much now to run as we have both lost our jobs...how can i get cheap car to run around in? thank you

Posted by Natasha on

Answer.

Hi Natasha, i've got to be really honest with you here. We won't be able to help unfortunately. The only advice i can give you is to save up about £1000 cash and get a good reliable run-around for a year or so in which time you can repair your credit history. Good luck. Kind Regards, Edwin

Posted by on

Question.

Hi - I was made bankrupt due to a business failure in March 2009 but have been ins full time employment ever since. Can I get car finance?

Posted by Ray on

Answer.

Hi Ray, we'll certainly try and help and we do have lenders that will take on ex bankrupts but the interest rates will be quite high (34.9% approx) as you'll be seen as a higher risk to the lenders. Can you prove your income and are you on the electoral roll at your current address? If so make an application and we'll go from there. It'll also help if you have a deposit of some kind. Thanks, Edwin

Posted by on

Question.

Hi My husband and I were made bankrupt but have been discharged since 2009. We were told we could get a small loan for a car from carloans4u.co.uk but was turned down.Our car is old and needs too much doing to it.i dont no why we were turned down as i am in part time employment and my husband is in full employment.i have not applied for anything until now and cannot understand why we were turned down.we need about 2 to 2and a half thousand for a decent little car...please can you help as i dont want to apply again as this will effect my credit score. Thanks

Posted by Mrs H on

Question.

This comment is awaiting moderation.

Posted by Robert on

Answer.

Hi Mrs. H, I completely understand that you don't want to apply as it will reduce your credit score. However without seeing an application it is impossible to say whether we would be able to gain an approval for you. Being an ex bankrupt obviously reduces your chances of an approval as you are seen as higher risk, but as long as you are showing effort to improve your score then we should be able to help. We do deal with many of the same lenders as carloans4u but we do have additional ones who may accept you, If you do make an appliation we will run an initial credit check so our underwriters can see where we think you would be approved based on your credit profile thus avoiding adding numerous searches to your profile. I hope this helps, Edwin

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