Can't get a loan!!!

dwarfer

:mad: I've just finished my loan with Virgin Money of £4,000 over 3 years at £147 a month.

I applied for them for another loan for consolidation of £5,000 over 3 years at £150 a month (same repayments) but they refused me.

I checked my credit repayments scoring thing and the repayment target is immaculate!

StuTheDon

Dwarfer - we'll need more information. I suspect that your initial loan of £4,000 has not dropped off your credit report yet. So, when you applied for another loan of £5,000, they see you having a total of £9,000 and deem it unaffordable.

Have you called them to appeal/query?

CLAPTON

Just curious
your signature says 'fianlly debt free'; your psot says you're in debt by 5k.

dwarfer

StuTheDon: Dwarfer - we'll need more information. I suspect that your initial loan of £4,000 has not dropped off your credit report yet. So, when you applied for another loan of £5,000, they see you having a total of £9,000 and deem it unaffordable.

Have you called them to appeal/query?

My loan ended at bigginning of this month, I was paying £147 over 3yrs and my last payment was 6th of July. Im wishing to consolidate 'my debt' with this new loan to save on interest as my cahoot loan is killing me (£50 a month interest)

I am going to appeal soon and send it off

CLAPTON wrote: »

Just curious
your signature says 'fianlly debt free'; your psot says you're in debt by 5k.

lol i knew someone would post a reply about that... that isnt technically MY debt, im lending for someone else who pays me, and yes he's very reliable I don't know why they dont accept him.

jadelee

Is it because of crisis or why bank refused giving me a loan if i was going to take it for the first time? Just because am a newbie or why than? Any ideas?