Help Please ...

Neil_1988

Hello , i am trying to get a £5500 loan and have been turned down by 3 loan companies now so i dare not try anywhere else for time being. I have signed up to credit expert to look into why i not being excepted .. I owe £1700 roughly but with this loan i am lookin to clear all that and get my self a second car .. i have not missed a payment over the last year and all my accounts opened and settled are satisfactory according to credit expert... any ideas of where i can get one from or why i might not be getting one ?

Thanks

Neil

nikki2804

Hi, it could simply be that;

1. You don't meet the lenders set criteria
2. You pay everything off each month - not going to make lots of cash off you
3. You have defaults in the past - high risk

Are you currently employed? Self employed? Have a hefty mortgage, anything like that?

Neil_1988

I living with parents and as far as i know of no defaults in the past .. and i am employed and have been with that company for 5 years ..

stclair

Have you checked your credit report with all 3 CRAs?

Neil_1988

i have checked my credit report with creditexpert.com , but am under free trail i have not paid for the credit scoring so i not sure what that is like i dont really know much about that stuff to be honest. I never miss a payment and always on time never ring up them up asking for payments to be moved or anything so kinda confused as of why i wont get one , Nationwide said that they believed i couldnt afford the repayments which didnt actually add up she didnt seem that keen to really say much after that so not sure if thats just there excuse i understand that they have there own checks aswell ..

Tixy

Neil_1988 wrote: »

i have checked my credit report with creditexpert.com , but am under free trail i have not paid for the credit scoring so i not sure what that is like i dont really know much about that stuff to be honest. I never miss a payment and always on time never ring up them up asking for payments to be moved or anything so kinda confused as of why i wont get one , Nationwide said that they believed i couldnt afford the repayments which didnt actually add up she didnt seem that keen to really say much after that so not sure if thats just there excuse i understand that they have there own checks aswell ..

Do you have any other debts in addition to the £1700? any other open credit accounts (even if they don't have a balance?), overdrafts etc?

How does your total credit limits across any/all accounts compare to your salary?

Neil_1988

I believe all the money i owe is that 1700 pound and after a quick estimate that seems to be my overdraft aswell.

Neil_1988

anyone any other ideas then ?