need finance urgently but i have bad credit

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patgar

Registered User
Messages
21
hi everyone,

I am in a terrible state.

I need to borrow about 200,000 euro. My credit rating is bad and i cant borrow off the main banks. I owe alot of money to the tax office, credit cards and late mortgage repayements.
My house is mortgaged to the max already. I have a farm of land which is valued at about 2million euro and i would give this as colleratal to anyone who would lend me the money.

Any ideas would be greatly appreciated,
Thanks
 
MABS will be able to advise re current debts but won't be able to get you a loan. Have you thought about selling part of the farm to raise the necessary money?
 
thanks for the replys,
my accountant wont deal with me as i owe him 4k...
i also cant sell any of the land for at least 6 months..it is being transferred into my name and will take another while. I would give any financial instution a solicitors undertaking on the land to raise the finance. i just dont know what to do
 
Go to MABS and talk to them about your current debt. Is the loan to pay off bad debts? If so, maybe the banks will take the land value into account until you can get sorted to sell it and pay them off in a year's time, especially if they see you've tackled your problem via MABS.
 
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