OTHER CREDIT SOURCES

OTHER CREDIT SOURCES

There are other ways to get credit if you cannot get a bank, building society or credit union loan, or if you want to borrow a smaller amount than a bank will give, or need a specific item. If, for example, you are looking for household goods, and are thinking of using a high street rent to buy organisation, such as Bright House, or even a catalogue, there may be a cheaper alternative.

Fair For You is a not-for-profit organisation that provides a great range of products from washing machines, fridges and beds, to prams and car seats. Goods can be paid for on a weekly, fortnightly or monthly basis and the interest rate, at 3% per month (42.6% APR), is much less than High Street rent to buy stores. They can also uplift old items.

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Scotcash provide personal loans starting from just £50. A not–for–profit Community Finance Initiative, they provide a cost effective alternative for loans where a bank or building society cannot help. Loans are based on your current circumstances, not your past credit history. If you are looking for a quick, smaller loan you can apply to Scotcashonline. They also have an office on High Street in Glasgow.

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The Responsible Finance website has a search function here which gives you options for fair credit in your area.

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