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Very confused about secured loans-HELP


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this is a tricky one, i keep on being refused credit because i have no credit apart from my orange phone bill which I must confess i pay a week late. I need to apply for a loan but have been advised that i will only be able to obtain a secured one, Relax brokers have offered a loan with paragon Fiannce with 14.4%, im thinking i should take this ( it may help with credit) and then next year apply for an unsecured loan to pay it off. What do ppl think? Has anyone had any dealings with Paragon:confused:

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Hello and Welcome, Sammb.

 

I'll move this thread to the appropriate Forum, you'll get all the help you require in there.

 

Regards.

 

Scott.

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

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Help keep it up and active, helping people like you.

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oh yes sorry i have my mortgage a capitla ine card which i only 1 month old and a mobile phone bill which is on contract. Im being told that my credit score is low because i dont have enough credit. Do you know anything about Paragon?

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  • 3 weeks later...
oh yes sorry i have my mortgage a capitla ine card which i only 1 month old and a mobile phone bill which is on contract. Im being told that my credit score is low because i dont have enough credit. Do you know anything about Paragon?

 

I would advise you to avoid Paragon like the plague. Their interest rates rise on a monthly basis regardless of any increase in the banks rates.

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