OR Interview

tadsa

Went BR yesterday and am fretting about the OR Interview. When they ask about why you took loans / credit etc I don't really have any really good reasons - stupidity, trying to live beyond my means, robbing peter to pay paul - all of these are my reasons but they are not very good ones!

Surely I'm not the first person who has been a complete idiot with credit but what have others said to the OR?

skylight

You're not the first and will not be the last!

Just tell them the truth, no matter how silly it sounds. It still sounds daft to me, my reasons - because at the end of the day it boils down to the bare bones of over spending; regardless of how or why and my circumstances at the time.

thatsyourlot

Hey Tadsa,

Along side a few silly business mistakes (paying for pointless magazine advertising for my wedding jewellery business) I have not been so great with my finances either.

Of course I wanted nice things, like most people do but coz my business has not gone as well as I would have liked it to do.. I had to rob peter to pay paul, so we are in the same kind of boat.

I have my OR telephone interview nxt week...

debtinfo

hi the best advice i can give, is to get a pen and paper and work through a timeline, work out which debts paid of others, when you consolidated, when you did balance transfers. Also try and think when any large purchases were made, new furniture, holiday, car expenses etc.

I know it is hard to work out dates but try and put them in order 1,2,3,4....
try and tie them into other events i.e was that loan at this house or the last. before or after the wedding/birthday/new job/birth of child etc

sieve

OP and thatsyourlot, don't worry, you will be fine. As others have said, write down what you got, roughly when, and try and work out what the money went on. I did that before my interview and it was much easier explaining the situation to the OR (which, like skylight's, was mainly down to me spending over my means). They've heard it all before, there will be thousands of cases worse than yours I can guarantee it - they are not there to judge, just take facts and work out what's best from now on.

But as others have said BE HONEST - you'll have a much easier time.

Good luck,

Cheers

S