Can I appeal a credit refusal?

exel1966

Empty_pockets wrote: »

Maybe, but I've spent literally hundreds if not thousands in interest payment over the years which I wouldn't have had to do if my report was correct. checking it and using every tool available will return dividends for me.

The CCJ was issued 3 years ago and paid as soon as the paperwork turned up. That means it can be cancelled and completely removed from my credit file. I received a letter this morning from the court confirming that.

The main difficulty is that they don't tell you the reason why they decline. I can only assume it's the CCJ as there are no other issues I know of and my salary far exceeds their requirements.

Paying interest is your choice, nobody has to pay it, so what you've paid to date I'm afraid is totally irrelevant. Six years is the price to pay for having a CCJ registered against you whether it's been settled or not. It can only be removed before that time if it's been put their in error.

Your report will only confirm that you have repaid what was owed, nothing more, unless you have added something yourself which you are entitled to do so, though whether it counts for much, if anything is very debateable. It can actually do more harm than good by drawing attention to your past predicament.

Your salary is also irrelevant to many companies if CCJ flashes before them, though some will still give you credit albeit at a much higher APR as long as you fit their customer profiling in other ways.

You have little choice, but to bide your time, try one of the Sub-Prime cards out there or be lucky with an application elsewhere !

LBG_worker

An application remains on the experian autoscore system for 3 months - I used to be an senior underwriter for credit cards and loans (before I got promoted yay!). It is usually expected that the applicant will come back to us with in the 30 day period but the application can be retrieved and a decision over turned in 3 months before the decline decision is archived and a new application has to be made to obtain credit.

When a lender or provider makes an amendment to the information it sends to credit reference agencies it can take a month for this to officially to go on a credit file (that is the service level agreement that banks have with experian). Although searches are real time transactions aren't necessarily real time.

never-in-doubt

LBG_worker wrote: »

An application remains on the experian autoscore system for 3 months - I used to be an senior underwriter for credit cards and loans (before I got promoted yay!). It is usually expected that the applicant will come back to us with in the 30 day period but the application can be retrieved and a decision over turned in 3 months before the decline decision is archived and a new application has to be made to obtain credit.

When a lender or provider makes an amendment to the information it sends to credit reference agencies it can take a month for this to officially to go on a credit file (that is the service level agreement that banks have with experian). Although searches are real time transactions aren't necessarily real time.

Appreciate what you're saying and yes, lenders will (on occasion) allow you to appeal within 3 months, but they will request a copy of your credit report and/or reserve the right to search you again - within 30 days they cannot perform additional searches. This should be pointed out to avoid confusion...

I'm not specifically referring to any particular lender, I assume with your username you're Lloyds (Banking Group)?, in which case I see where you're coming from.

If you chose to specifically refer to a lender within a tied agreement, say barclaycard with Equifax, then you'll find they are realtime in almost everything except the CAIS updates, naturally which are monthly. As Lloyds doesn't have an agreement in place, they can use any of the 3 CRA's thus their data may not be as realtime as lenders with a tied SLA in place

But valid points all the same.....

never-in-doubt

noah271007 wrote: »

can you list lenders that are known to search going back 6 years? A&L, Nationwide, Barclays...any one else?

Well the main ones that don't are Lloyds (Experian only); Tesco PF, HSBC & HBOS mate - hows that for a start

LBG_worker

Yep exactly right does depend on the lender but used to work for Barclays - they also have a 3 month application appeal which is why I mentioned it because the application was for a Barclaycard. LBG worker - all the good names where taken lol!

never-in-doubt

LBG_worker wrote: »

Yep exactly right does depend on the lender but used to work for Barclays - they also have a 3 month application appeal which is why I mentioned it because the application was for a Barclaycard. LBG worker - all the good names where taken lol!

I know Barclays allow 3 months, they also want a copy of Equifax file if you appeal after 30 days which is quite decent of them to be fair (but has to be an original lol)..... like i'd Doctor my credit file :think:

So you're now with Lloyds then? Cmmon mate, own up! We won't ridicule you (that much)..... :rotfl:

LBG_worker

I have worked for many banks but yes I do currently work for LBG - which simply means I have a valid reason to hate them more than you do! :j the internal marketing has not brainwashed me!

never-in-doubt

LBG_worker wrote: »

I have worked for many banks but yes I do currently work for LBG - which simply means I have a valid reason to hate them more than you do! :j the internal marketing has not brainwashed me!

hahaha - I don't hate Lloyds actually, its Natwest that are the baddies right now..... :beer:

Although that made me laugh, talk about hatred for your employer lol - edit - I do hate HBOS, with a severe vengeance......

LBG_worker

I hate Natwest too! Lloyds make all employees bank with them I think that's wrong how can they boast to be 'the most popular bank for current accounts' when they make their staff have a current account with them that's forced "popularity" and they make you use lloyds cash machines. Although my salary goes in and the whole amount goes out again to an account with better interest rates! that ought to spite them! :rotfl:I cant believe you even mentioned HBOS its bound to be a sensative subject for me!

never-in-doubt

LBG_worker wrote: »

I hate Natwest too! Lloyds make all employees bank with them I think that's wrong how can they boast to be 'the most popular bank for current accounts' when they make their staff have a current account with them that's forced "popularity" and they make you use lloyds cash machines. Although my salary goes in and the whole amount goes out again to an account with better interest rates! that ought to spite them! :rotfl:I cant believe you even mentioned HBOS its bound to be a sensative subject for me!

haha - what would be funny, what with your banking history if you got sacked from HBOS and then end up working with them again via Lloyds..... would make me chuckle. :rotfl: