Loan declined,could my request for repayment of charges be partly to blame?

woody01

You earn a huge salary and any bank on the planet would be mad not to let you have £20K.
You would have absolutely no issues paying back such a small sum of money and you will have loads left at the end of each month when all your bills, including the loan repayment have been taken.

There....is that better?

Also, i am in charge here at NASA, and once i have finished building a space ship that can travel at the speed of light, i am going to predict the lottery numbers for the next 5 years and move to Jupiter.
When i do, i will be on a similar planet to where you come from by the sounds of it.



EDIT: Sorry not £11K earnings.........£1100 per month salary. Thats still only around £13.5K so Alan Sugar needn't worry. Can you not grasp that your salary is NOWHERE NEAR good enough for a reputable company/bank to lend you that sort of money?
When people with good credit and £50K+ earning cannot get credit, ask yourself why you can't? :rolleyes:
The fact that you cannot even control an overdraft shows that you cannot deal with that kind of money.
So to answer your question: I do not need to do the sums. You are a low earner with a history (admitted by you in your opening post) of not being able to repay credit. If you cannot grasp this then your confusion over everything else isn't suprising.:T

(just another aggressive fool, that when told the simple facts, doesn't like them)

simon_templar_2

I think the DTI ratio is 1.5 so the OP fits this but missed/late payments will work against them.

molevalley

woody01 wrote: »

(just another aggressive fool, that when told the simple facts, doesn't like them)

Weh hey!

Another great answer, for various reasons the only outgoings I have are the loans and credit card payments so it still stands that I
COULD AFFORD THE PAYMENTS,
You posted absolutely no simple facts and I'm only coming back to answer the idiots who are slagging me off, not the ones who have given me advice,
what a !!!!!! you are (and thats being aggressive):T

magsi23

Guys can we stop fighting and help each other instead? no one is perfect here and everyone is different, something very easy and simple might not be very simple for some, so no need to loose your patience.

never-in-doubt

molevalley wrote: »

Weh hey!

Another great answer, for various reasons the only outgoings I have are the loans and credit card payments so it still stands that I
COULD AFFORD THE PAYMENTS,
You posted absolutely no simple facts and I'm only coming back to answer the idiots who are slagging me off, not the ones who have given me advice,
what a !!!!!! you are (and thats being aggressive):T

I think from post 1 you've acted aggressive and rude to other members and as such I have reported this post. Whilst new members are welcome, I think calling someone a !!!!!! in your 6th post doesn't hold much stead for the future.

Back to the point in hand, if you take home just shy of £1100 per month then you're earning what, £18k per annum top line? Therefore the loan of £20k doesn't seem out priced, however to give you a head start for the same loan offered at base rate (i.e. the best rate) it would be as follows:

The illustrative cost of borrowing £20000 over 5 year(s) at our competitive rate of 9.4% APR Typical for Nationwide FlexAccount (Debit card) customers* is detailed in the table below.

*Must have a monthly credit turnover of at least £750 (excludes internal transfers) for the last 3 months. Please note, offer applies to new Nationwide personal loan customers only and the rate you will be offered is dependent on your individual circumstances, the amount you choose to borrow and could vary from the illustrative rate shown.

Monthly Repayment - £415.34
Total Amount Payable - £24920.40

Without Payment Protection Cover

The above shows your monthly payment – which would be payable over 60 months

I think this shows that for your quote to be over £100 dearer a month suggests the APR was a lot higher meaning you aint exactly what you'd call a 'catch' to the bank.

Good Luck in whatever you proceed to do but i'd certainly refrain from being rude if you want to enjoy the benefits of this great site. :mad:

woody01

I think from post 1 you've acted aggressive and rude to other members and as such I have reported this post. Whilst new members are welcome, I think calling someone a !!!!!! in your 6th post doesn't hold much stead for the future.

I dont mind him being like that.
It oozes limited intellect

(I think he is annoyed at earning poor money)

simon_templar_2

If they OP did get the loan how long before they come back on here to ask how to get the whole amount written off??

TheGrant

molevalley wrote: »

She told me that I was declined purely because my balance was always in the red, that the credit search was fine and that if I can get my balance in the black and keep it that way I would have a greater chance of being successful in six months time.

I've found the answer. :T

Oh no, she just made that up for a laugh. Let's see what the internet says.