Need to borrow 40,000 euros

[paulmcquaid]

Hi guys. Could anyone help me out please? I need to borrow about 40k but, I don't own a house, haven't been working for a while and don't have a good credit rating.

On the upside though I am going to be getting a lump sum of about 150,000 euros in a few months, (mabe the end of the year).

I just owe all sorts of people different amounts of money at the moment and want to consolidate it all into one loan.

The 150 is a guaranteed, just don't know when.

Would appreciate any advice/pointers.

 

[CCOVICH]

Without proof of income/earnings, I suspect you will find it hard.

Would someone (a family member) be willing to guarantee the loan?

Could you provide a lender with proof that you stand to get this lump sum?

This thread may be of some use, but there isn't much to go on I'm afraid.

If you owe money to lending instutions as opposed to family/friends, then maybe you should aproach MABS, who may be able to negotiate with lenders on your behalf.

 

[paulmcquaid]

Thanks for your reply. My 150k is guaranteed in the form of a letter from my solicitor saying we refused 120K in compensation for an accident a few years back, (high court claim going through at the mo')

 

[CCOVICH]

Have you approached a lender with this guarantee?

To be honest, I'm not sure it's worth the paper it's written on-say the High Court refuses your claim-will your solicitor make good the €150k? I doubt it somehow.

Perhaps your solicitor has given their professional opinion as opposed to a guarantee?

But I could be wrong-maybe such guarantees hold water? One of our solicitor members or someone working in lending may be able to advise?