Declined by my own bank!!! HELP!!!!

hollygolightley

Hello

I've just heard of this website/forum and thought I'd give it a go.

I am with a well known high street bank and have been with them for 7 years.

I have a current unsecured loan of approx. £2000 (which I pay approx. 125 each month), outstanding balance on my credit card (which I haven't used for AGES, just trying to pay it off) of approx. £600 (I am paying minimum per month - not a good idea I know but I just didn't have the funds to pay more) and have been in 'living in my overdraft' for the last year or so, partly because due to circumstances beyond my control, I was unemployed for about 4-5 months. My overdraft amounts to approx. £1400.

I thought it would just make sense from an ease point of view to put the overdraft on top of my loan plus my credit card, bring those both to zero and have just the one payment going out once a month. I would have money going in once everything was at zero that would put me in the black. Then go from there.

Make sense?

I DO/DID understand that this may take me longer to pay off and I may get a higher interest rate, but when the math was done, it wasn't too much and I could cope with it.

I've just been declined by my own bank when I have tried to do this.
They haven't told me why. Just that a letter will be arriving stating why I was declined.

Help!

Northernbird_2

I would wait and see what the letter says, but it sounds like there may be something on your credit file, so it may be worth getting a copy to see what it says.

Have you ran your cc, loan and a/c well over the last x years? If you've not asking for more borrowing but just to put debt into one pot as it were, and you've not had any charges or missed payments etc, it may be your credit file.

Have you changed jobs, address etc?

Not sure what else to suggest.

hollygolightley

thanks for your response.

Well, I admit, I haven't run my credit card as best as I should have. I have never missed a payment on my loan. Although I have asked them to defer for about 3 months in the summer when I found myself unexpectedely unemployed and was struggling for money! I offered to pay £20 per month as opposed to the usual £125, which they (the bank) seemed fine with.

I'm not asking for any more money (in a sense - but to add my overdraft and credit card on to my existing loan).