Declined Loan

Kavanne

Have you made an SOA? It'll help you see where all your money is going each month and perhaps enable you to cope the way things are, if you can't get it on lower interest rates. You may need to cut back in other areas. Sorry

Paragonfighter34

Try https://www.experian.co.uk

It may be something that your not expecting or just ultra cautious banks lending nothing out.

Marker_2

Kavanne wrote: »

Have you made an SOA? It'll help you see where all your money is going each month and perhaps enable you to cope the way things are, if you can't get it on lower interest rates. You may need to cut back in other areas. Sorry

Yes we keep a record ofeverything and compiled a list ofincome andoutgoings before we went to the bank, they love that!

Kavanne

Marker wrote: »

Yes we keep a record ofeverything and compiled a list ofincome andoutgoings before we went to the bank, they love that!

Ok now what areas can you cut back in so that you can pay off your debts quicker?

paul_hope

I had the same problem, i wanted to consolidate but people laughed. My biggest prob was a card that had 3k on it and it was a nightmare gettin a loan which was senible interest. i got one in the end at surethingloans.co.uk . it could have been reely bad for me though as as soon as i paid off the card ( capital one) they sent me a letter putting up the rate to 34% !!!!!! i now only use the card when i can pay it off each month. have luck it is difficult.:j

Kavanne

paul_hope wrote: »

I had the same problem, i wanted to consolidate but people laughed. My biggest prob was a card that had 3k on it and it was a nightmare gettin a loan which was senible interest. i got one in the end at surethingloans.co.uk . it could have been reely bad for me though as as soon as i paid off the card ( capital one) they sent me a letter putting up the rate to 34% !!!!!! i now only use the card when i can pay it off each month. have luck it is difficult.:j

What was your rate at this website?

paul_hope

the rate not cheap but %$££%^ less than the cards 15.3% i think

Kavanne

paul_hope wrote: »

the rate not cheap but %$££%^ less than the cards 15.3% i think

I would be wary of that site, OP, don't do something on the recommendation of one person with no posting history on an online forum. No credit check? My !!!!.

Also, you said it was 12% in a different post, which is it, mate?

Marker_2

Kavanne wrote: »

Ok now what areas can you cut back in so that you can pay off your debts quicker?

Nowhere really at the moment, the only luxury outgoings we have right now is sky and setenta totalling £28 per month, we are looking to lowering our phone contracts, one of us going pay as once contract has finished. Started food shopping in Aldi and Iceland. Walking to shops, turning off switches etc to save on electric.

Havent seen a significant change yet but we are keeping it up. Most ofour outgoings are SC and CC.

Spoke to the bank again andtheyinformed me itwas Experian and EQUifax who provided the rating, so im going tolook foradiscount on here, seemyreport and see what i can get amended toimprove our reports

Robert_Sterling_3

Marker wrote: »

We wanted to consolidate it all so its i one place with one payment.

Having it all in one place is not in itself a good idea.
Paying two bill of £100 each is better than paying one bill of £225 for example.