Small loan - Bad credit rating

TempAccount111

Hey everyone. is there any option in Ireland currently to apply for a small loan of circa €500 from an alternative source to a bank or credit union?

Obviously the question is being asked though because of a damaged credit rating so I won’t be able to get a usual lender loan. Really don’t have a family member of the level of asking for that amount of a loan either.

This is coupled with recently finishing up in job so I feel kind of cornered at the moment. I live week to week currently on Govt funds and had a costly event happen last week with vehicle which has left me short changed for my portion of rent in shared accom.

Any suggestions appreciated

There are some lenders who would do a loan of that size, but I really wouldn't recommend it - there's usually high interest and you can end up in more trouble than you started. You could check out the Central Bank website which has a register of 'moneylenders' - at least that way you know you're dealing with a legit lender.

Have you tried citizens info, MABS, SVP, etc? I would look into getting one-off assistance rather than taking a loan.

TempAccount111

Thank you. I’ll have a look at them!

Jim2007

https://www.boards.ie/discussion/2058219079/small-loan-bad-credit-rating

I appreciate you are in dire straits, but going to a money lender is not going to solve your problem since you live pay cheque to pay cheque, it will dig you in deeper.

Even if you think it is unlikely, you should at least try to get a loan from the usual sources and ask friends and relatives, yes it may get you no where, but you won’t know until you try. I don’t know if it is still the case but local social welfare officers were able to make one off payments in such situations in the past, so try contacting them and also contact charities such as the SVP and your local priest or minister.

is there any chance of casual work or do you have anything you could sell on eBay etc.

Do everything you can to avoid money lenders because it almost never works out well.

Gusser09

Go to your local Credit Union. They'd be willing to start with a small loan like that. I find with the Credit Unions once your history is good with them they realy don't delve to deep into your history.