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Bank said no, but desperately need a yes!!!
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I've been turned down for loans in the past - both from my banks and from other lenders - I did however successfully appeal my rejection with Egg for a £10k loan for my previous car. It's an exception though and not common. Lenders are being far stricter now with their lending so a lot of things will be going into making decisions now compared to say 2 years ago. If it's mega urgent and you can't make do with the heating you have or an electric or oil filled heater then could you put it on one of the credit cards for now? Then maybe move it to a 0% card?
You say your files are good - but have you closed down any cards that you don't use? Any readily available credit will count against you when you apply for new products so make sure you cancel and close any old credit and store cards.
Moving forward then start savings... if you have £250 spare a month then put £100 away in a savings account moving forward. That way should you find yourself in trouble with heating/car/whatever again then you will have the money to pay for it without worrying about havign to get a loan...DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0 -
Think I've found a company to do the work for a reasonable amount & will accept credit cards. That's the only solution at the moment I think. High interest rate, but will just have to pay it off asap! Grr @ the banks.Debt @ LBM 29/12/08 - £49044! Now £44684.Fat loss 29/85lbs // £100 into £10k £243.07/£10kHSBC Loan 9658 // HSBC CC 3484 // HSBC CC 1464 // DP's 779 // Car 0% 4851 // Halifax OD 1348 // HSBC OD 1.5k // HSBC OD 1k // Barclays OD 400 // IOMOM 4400 // S Loan 15k // Cap1 £8000
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retrocircles wrote: »No, the £250 'spare' each month goes on me enjoying life. Holidays, clothing, paying off other debts etc.
So if you do manage to get a loan that requires you to pay £250 a month, what are you going to use to pay off these other debts...?0 -
p00hsticks wrote: »So if you do manage to get a loan that requires you to pay £250 a month, what are you going to use to pay off these other debts...?
That sentence worried me too. If it's being used to service other debts it wouldn't be deemed 'spare' by any lender.0 -
That sentence worried me too. If it's being used to service other debts it wouldn't be deemed 'spare' by any lender.
When I say paying off other debts I'm talking about overpaying rather than monthly agreed amounts. Eg, car is set amount each month but can overpay as we wish (but it's 0% anyway).Debt @ LBM 29/12/08 - £49044! Now £44684.Fat loss 29/85lbs // £100 into £10k £243.07/£10kHSBC Loan 9658 // HSBC CC 3484 // HSBC CC 1464 // DP's 779 // Car 0% 4851 // Halifax OD 1348 // HSBC OD 1.5k // HSBC OD 1k // Barclays OD 400 // IOMOM 4400 // S Loan 15k // Cap1 £8000
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