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Loan Application Information
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# 1
Old 15-04-2012, 9:44 AM
MoneySaving Newbie
Join Date: Apr 2012
Posts: 8
Default Loan Application Information


Apologies if this post is in an incorrect thread. Apologies also if this is a little long winded.

About a month ago I applied for a "Buy Now, pay in 12 months time" loan, but my application was rejected. I went home and paid for a detailed Experian Report which showed my credit rating to be excellent with no defaults etc.

I contacted the loan company (Creation Finance) to ask why my application had been rejected. The response from the Underwriters was a rather unhelpful "your application didn't meet our scores".

I asked Creation if the data which Currys had input in my application could be made available to me, reasoning that there may have been a mistake in the information Curry's had submitted. I was told this information could be provided for a fee of 1, which I duly sent off. I was also very specific what data I was requesting.

A few days later I received a letter from Creation saying they'd not received my payment. I sent a second payment only then to receive a telephone call to say they had infact received my original payment!!

A week later I received another telephone call from them to repeat what the Underwriters had originally told me. Despite requesting Creation provide me with a "copy of my application form (for credit) which was submitted by Currys on Saturday 10 March 2012.", they've somehow misunderstood this request.

In my telephone conversation when I again repeated my original request I was told they would send me the data which the operator was looking at on screen, which they confirmed was NOT my application.

So, from being told they could provide me with a copy of my original application, Creation appear to be back tracking. The nature of my job means that I have to have a perfect credit rating which I've always had.

I'd be really grateful please if someone could give me some answers to the questions below.

Under what "legal powers/legislation" (other than the DPA) can I request this information (copy of my application form) on?

Are Creation likely to keep a copy of my original application in the "back office" data?

If Creation fail to provide me with this information, what action can I take to obtain it?

What could be causing the rejection?

Are Creation obligated to providing me with the specific and actual reason?

Many thanks in advance.

lettuceman is offline
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# 2
Old 15-04-2012, 11:11 AM
Fantastically Fervent MoneySaving Super Fan
Join Date: Apr 2009
Location: West Midlands
Posts: 3,225

They dont have to provide a copy of application unless you have a credit account with them which you dispute later.

However in this case it seems your just not profitable to them hence the decling.

A perfect credit file doesnt always guarantee credit.
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# 3
Old 15-04-2012, 11:28 AM
Fantastically Fervent MoneySaving Super Fan
Join Date: May 2009
Posts: 9,121

Creation also search equifax mainly, you checked this?
Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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# 4
Old 15-04-2012, 12:21 PM
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Join Date: Mar 2009
Posts: 6,044

With such a poor level of service from them so far, why are you so desperate to become a customer of theirs?

They don't "owe" you an acceptance for their finance.
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