My situation and how the bank has crushed me

spike2012

clutton wrote: »

spike - may i applaud you for your astonishingly mature response to a wide variety of different opinions on your situation - well done..


can you contact the bank and explain about the bank account mis-understanding - if the bank can explain this - the credit rating companies (experian and equifax) may be willing to revise your credit rating

Thank you! I am trying to take in as much advice I can find between some of the more judgemental posts.

ViolaLass wrote: »

I'm a bit confused on several points.

1. The mortgage you were offered is more like 4 times your own salary, not six times. It's a small point but it worries me that you didn't work it out more accurately.

2. If you were offered a mortgage by Natwest then what exactly is the problem? Not saying you should buy, but you've been offered the means to do so if you want to and 3-4 times salary is pretty standard. Where exactly is your credit score hurting you?

3. Don't bad points on a credit score not count after a while? I missed a couple of payments on my credit card a few years ago. After a year I checked my score again and they no longer showed - it only showed things up to 12 months old. In that case, anything you did at the age of 17 shouldn't still be affecting you now that you're 20 (and I fail to see exactly how it is affecting you too).

4. I would certainly pay off any debts you have first especially since you already have the money to do so.

6x my salary is what I bring home. If I use a figure that is before tax it could be 50k a year, but if im being taxed 40k I'm still only bringing home 10k. That is why I used the figure of what I take home.

My credit score is has an effect on everything I'm doing. from changing credit cards to my phone contract.

My bad credit points are still there, the reason behind them were 6 consecutive missed monthly bills. I'm guessing it shall last a while.

Thanks, I will be paying back as much as I can, as soon as I can!v
:money:

spike2012

LeeSouthEast wrote: »

I may be off-base with this, but don't you have to be 18 to receive credit? How can they black-mark someone who isn't entitled to credit?

Forgive me, I was 18 at the time. Nearly 3 years ago now, so they have the right to edit me into a credit agreement in that case :mad:

jenny74

barnaby-bear wrote: »

I was thinking this - I thought banks weren't allowed to give under 18s credit.....

I think his '17' was a typo... his sig clearly says he was 18.