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    Loan referred to underwriters - advice needed
    • #1
    • 16th Aug 10, 6:18 PM
    Loan referred to underwriters - advice needed 16th Aug 10 at 6:18 PM
    Hi all,

    I'm 29, earn around 33k per year and have applied for a consolidation loan of 8,500 for a credit card and overdraft debt.

    I was approved at the rate of 9.4% interest which is reasonable as I'm paying a great deal more through my overdraft and credit card.

    Credit score on Equifax was 445, but the only negative was that I wasn't on the electoral role at this address. No credit card missed payments, I think I exceeded my overdraft once in the last 3 years.

    I was turned down for a Natwest loan for a similar amount in February so I assume that this time I'll get knocked back as well.

    I'm intrigued as to whether I will get the loan or not. Any advice? I appreciate it's individual circumastance, but I'd be interested in some informed advice. To note I've nearly saved 2,000 to pay off the credit card (by selling other items) in the last week (applied for a loan beginning of August) so I'm not particularly bad with money.

    Look forward to hearing your replies.
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