Personal Loans: how easy is it to get accepted

M635

Hi,
I am a discharged bankrupt (Discharged April 05) and wondered if anyone could recommend a bank/loan comapany that are more likely to lend to me as I need to purchase a new oven and do not have available cash, or a store eg Currys etc that are more likely to give finance.

Thanks

jenni1188

I am 19 years old and in full time work earning £14500 per year with regular bonuses!
I am living with my mum in a council property and have 1 credit card (£200) and 1 overdraft (£50) which i pay in full every month, i have got these out as there is no chance of me getting a loan, noone will look at me and i have been declined a few times!
I have left it now about 4 months.

PM me if anyone has any suggestions i want a loan for £3000 over 3 years and my own bank Halifax wont give me one

J

regularsaver1

you have to be 20, that is why

you have posted on several threads about this

leedb

Hi all

Quick question, as this seems to be a good general loan questions thread...

If you have loan/cc/mortgage up to what % of your monthly salary are lenders comfortable with you paying off debts, for example, if I took home £100 per month, was paying £20 in mortgage, £13 in loan and £7 in credit card payments - so in that case 40% of the total, is a lender still likely to lend?

Or is there no hard and fast answer to that?

Thanks

Lee

sophiec_3

:eek: :eek: :eek: well i have probably the worst loan on this thread so far from a well known high street bank for £10600 at ....... wait for it...... 16.9%


so guess ill be paying well over the odds back, really wish i didn't have to take it and was more money conscious then, i,e didn't really know the interest rate was bad at the time!

:eek: :eek: :eek: ow well 4 years to go.....

chilli_dog

The Nitwest?

Call them and ask for a redemption figure and see if you can borrow it for less?

leedb

Hi all

Any ideas on the % of salary question I posted above?

Any thoughts or insights welcome.

Lee

regularsaver1

sophiec wrote: »

:eek: :eek: :eek: well i have probably the worst loan on this thread so far from a well known high street bank for £10600 at ....... wait for it...... 16.9%


so guess ill be paying well over the odds back, really wish i didn't have to take it and was more money conscious then, i,e didn't really know the interest rate was bad at the time!

:eek: :eek: :eek: ow well 4 years to go.....

trust me - i've seen higher - 24.9% (tends to be higher on smaller amounts sometimes)

regularsaver1

leedb wrote: »

Hi all

Quick question, as this seems to be a good general loan questions thread...

If you have loan/cc/mortgage up to what % of your monthly salary are lenders comfortable with you paying off debts, for example, if I took home £100 per month, was paying £20 in mortgage, £13 in loan and £7 in credit card payments - so in that case 40% of the total, is a lender still likely to lend?

Or is there no hard and fast answer to that?

Thanks

Lee

I was told that you have to have at least 40% free income, after deducting mortgage/rent, endowment, council tax, any other credit.

Lenders do not ask about your food, gas, water ect so thats why the 40% free

Thats very rough though

kazsbk14

HELP!! I've just applied for a loan - trying to get myself out of a hole and I'm feeling pretty desperate. I applied online for an Alliance & Leicester Loan with a typical APR of 6.3% - when I called them up to go through some questions - the best they could offer me was 10.3%!!! I can't afford that - any ideas what I can try next?? If I apply somewhere else, will I get the same response? Also, I'm worried that if I apply again too soon, obviously another search will show up on my credit record (just got my credit score and its 'fair' - how can I improve this - could this be what's affecting me getting a decent APR?) HELP!!!!!