has anyone heard of advantage loans

[sjw]

hi has anyone heard of advantage loans there online offering bad credit loans ccjs iva ect, no credit check just wondered if anyone heard of them as sounds to good i know getting more debt not great idea but could help pay some off.

[carlmcmullen]

We'll deal with your provisional application, without a credit check, and if you're accepted we may be able to put you through to a lender who'll pay out within 3-5 days.

Yes - They do not credit check, they are simply a broker who will discuss your circumstances and think if they feel you eligible for a loan (which usually means you have an income)

If you are eligible they will put your through to a loan company who WILL credit check and probaly give you a High APR loan.

Have you considered your other options ?

[OPTIMIST12]

I am unclear regarding the original posters reference to IVAs in the context of their post. Perhaps they can clarify what they mean???

[carlmcmullen]

SJW are you subject to an IVA at the moment ?

[carlmcmullen]

Sorry my response now does not seem to be clear as Optimist has edited the post twice, to read different things.

SJW if you are subject to an IVA then taking credit would be breach of your IVA and not acceptable.

If you are experiencing problems with your IVA and payments then you need to discuss with your IP.

However if you are not subject to an IVA then a consolidation loan is not always the answer, and you may need to speak to an IP before deciding what option to take, assuming you feel you are struggling with your debts.

(Optimist it may be better if you post a correction to your post rather than editing them all together to read differntly every time)

[OPTIMIST12]

Yes - my apologies. I think I misread the initial post and I apologise sincerely for causing confusion.

[Robbiecat]

They are a spectacularly bad idea. Invarably the brokering companies charge you an *arrangement fee* of anything up to £70 to put you forward to a "pre-approved" lender. Of course, they "can't guarantee" the loan, as that is at the discresion of the lender...

If the lender does then lend, you are looking at hideous interest rates and you'll find yourself paying back at least double, if not more than that of the original loan....

Does that help?
RC, who never got to the actual loan stage, but certainly met a couple of brokers...

[sjw]

hi i am not in iva at the moment but geting advise soon regarding one though -- they did ask for £49 fee but didnot mention interest rates yet-- just getting desparate and thought it might keep the wolves from the door for a little longer as i have not paid any creditors for nearly four months -defaults arriving daily and numerous phones calls daily and worried ive left it too late for iva especially if they can take several months.

[Robbiecat]

I started ignoring my creditors in 2000, with DMP's on and off for the next 8 years! I've just had an IVA accepted. Trust me, a few months is *NOTHING*!! ;o)

[sjw]

thanks and congrats on getting your iva agreed.

[Adam Davies]

Hi sjw
If you are considering an IVA then I wouldn't look to take another loan out.
As Paul has stated these companies are just the front men and will pocket at least the £49 for putting you in touch with a loan provider.They can't guarantee you a loan,all they can do is to guarantee to take your £49.
Where exactly are you with your IVA proposal ?
Regards

[anfieldbabe]

thats what advantage loans did to me hun stay well away they took my 49pound but luckily i realised what i was doin and didnt go thru with it so lost out on 49 pound but would have had a 20000pound loan for life(well nearly)lol at 300 pound a month

[sjw]

havent started yet melanies colleague as tried to contact me several times but unfortunatly always people from work around or kids so unable to talk so i will contact them on monday so hope its not to late

[MelanieGiles]

Never too late in our practice, sjw, my colleagues will speak to you at any time it is convenient for you, so best to ring to make an appointment.

[sjw]

thanks melanie i will as its definately about time i sorted this out thanks x