Keep Getting Declined for Payday Loans? How to Raise Money Fast
If you have had no such past financial problems then it would be advised to pick yourself up a credit report for analysis. You can do this for free with Noddle, or for the most detailed report you would be advised to go with CreditExpert from Experian. This service costs £14.99 each month, but you can take their free 30 day trial. If you do this then you are under no obligation to pay them after the trial period so long as you remember to cancel the service in good time. Receiving thorough reporting like this is advisable, since most lenders use Experian when they conduct a search.
If you keep getting declined for payday loans with a good history, then it may be the case that someone has been fraudulently applying for loans through your name. This is another good reason to pick up a report. If you have a really poor credit rating and all payday lenders won’t accept you then the best option would be to take out a Free Government Loan (you need to be on benefits). Subprime Credit Cards from the likes of Capital One and Vanquis are worth checking out. If this is also a no go, then using No Credit Check Logbook Loans are usually the easiest way to source funding! Logbook lenders are highly lenient surrounding eligibility.
Some for instance don’t require you to have a bank account and being self-employed is not often an issue. If you can show to them that you are in a position to afford the repayments then they should hand you the green light. They can freely do this, since if you don’t pay up they can legally take your car, whilst with other subprime loan types they usually give up on defaults quickly and sell the accounts on to debt collection agencies. Maybe you don’t have a car though? If so, and asking family members is out of the question then we would recommend switching from borrowing to selling.
If you are looking to raise money fast then we would advise on going with either one of the following solutions. The first idea would be in selling to CEX who can be found online at www.webuy.com. If you have any DVDs, games, old mobile phones etc then CEX always manages to deliver the most competitive prices. On this website you can receive direct quotes for how much they are willing to offer you. The idea would be to then head to a local store on your high street and receive cash in hand. There are 236 of these across the UK (on last count 331 worldwide).
When checking now they would for instance buy Breaking Bad Season 1 on DVD for £5 and they would sell this on at £10 and so it looks like a 100% markup is in place. Buying from them is generally expensive, but sellers are rewarded handsomely. You can as noted receive quick quotes in seconds when searching for specific items on www.webuy.com. I have used them personally on several occasions and have always been happy with their service. I did also always receive the full prices quoted online. If you have nothing to sell to them, then the final recommended would be to sell clothes for cash.
They provide the easiest way to raise money fast and these shops are popping up everywhere these days. Cash for clothes shops generally pay £5 per bin bag that adds up to around 10kg (£0.50 per kg). You would be surprised how quickly these bags fill up with heavier items such as old coats, jumpers etc are added. These companies make generous profits by selling what they buy as exports (usually to countries such as Romania). There is a huge demand there (and in surrounding countries) for British clothing, particularly branded gear. As I’m aware, as a business they tend to sell in bulk (typically at around 100%).
I tried one of my local shops out and I basically told them that I was moving and that I wanted to shift some old items that I didn’t need. They emptied the bag straight on to the scales (without even checking the clothes). This bag weighed in at just under 10kg and so they quoted a few pence under £5 and gave me the cash there and then. This was an extremely smooth transaction and they didn’t even ask for any identification! So if you can rustle up a few bags, then this is a great way to earn some extra dosh to see you through emergencies.
Some of these “Cash4Clothes” type companies may offer a little less or a little more per kg and some may be more thorough with their checks. Many notably now do home collections for the next day that is handy. Without any chance of credit, selling your used goods may just be the best solution. If you are looking for higher sums than what has been discussed here today then this recent Pawnbroker Loan Post may help to guide you in the right direction. This solution is ideal if you have jewellery or perhaps a laptop that you can do without for up to the period of a month.
