Smile

ste_coxy

Hi guys.

I bank with the smile where my 2 incomes are paid into every month.

I thought my Xmas had come early when I called them on Xmas Eve and they advised I had the availability for a loan of up to 11k.

I ended up requesting 7.5k over 24 months but then I thought about it and decided I could do with an extra £500 so called them back up on boxing day and asked to change the amount to 8k over 30 months.

I have just checked the application status on tehre and it says it has not been accepted due to not meeting the "criteria".

I am really confused? has anyone had this before? I have not been able to call them yet but I am hoping they will change their decision.

Tixy

Did they say on the phone that they would do a credit check?

Often letters come through from the bank saying you are pre-approved for a loan but the small print then says that its subject to a credit assessment including a search of your credit file.

When you speak to them ask them what the decision has been based on - it may be that they think you have too much credit available or used already or that something has flagged up on the national hunter search (which checks for inconsistencies with other applications - http://www.moneysavingexpert.com/loans/credit-rating-credit-score#fraud )

ste_coxy

Tixy wrote: »

Did they say on the phone that they would do a credit check?

Often letters come through from the bank saying you are pre-approved for a loan but the small print then says that its subject to a credit assessment including a search of your credit file.

When you speak to them ask them what the decision has been based on - it may be that they think you have too much credit available or used already or that something has flagged up on the national hunter search (which checks for inconsistencies with other applications - http://www.moneysavingexpert.com/loans/credit-rating-credit-score#fraud )

I'm worried now though as they put on an overdraft for the amount of the loan and already I have paid off my 4 credit cards. Where do I stand with this?

ste_coxy

relief... have just spoken to the bank - the message that i received is a standard response when really it should be saying it has referred - they are confirming it today for me.

christ i was worried!

ste_coxy

Following on from this. I have since rang today after not having received the application papers and they told me that it has been delayed due to some adverse bureau information showing up on my previous address.

This would be a default notice I have with my egg loan but I am unsure what happens next now as if they say I can't have the loan due to this then I'm stumped coz the money has been spent on the overdraft they have loaded onto my account.

They had me on hold whilst they were looking over things but I had to return to work. I am not sure what will happen now. Anyone any ideas?