Paperless / Online Statement Loan

KM82

Hi everyone, I'm new here, and now here because I need help.
I want a loan, for 6.5 - 7k, but it must have online statement-ing / paperless. I cannot have partner knowing about how much this is.

Any ideas please, and likelihood of being accepted, my own bank, Nationwide have declined me.

Thanks in advance

Kelly x

Beast

First things first - hiding the loan is such a massively unhealthy thing to do. Look at the hundreds of posts on here from people who hide their debt from partners and have it ultimately crush them.

Secondly, if you've been declined by your own bank there's probably a good reason. Let us know your salary and existing debts and people here will be able to give some pointers.

KM82

i clear 900 a month, salary 13500, and debt of 6.5k

thanks again

Beast

Couple of things spring to mind.

1.) Your existing debt is already almost 50% of your gross income. This will be seen as high by lenders.

2.) With your new debt, you'll be way in excess of your gross income. This is something lenders just won't do.

KM82

my sister has offered my 2k
should i try for a 4,5 loan?

Beast

Thats still 82% of your income... to be honest anything near 50% makes lenders nervous.

I really don't think you're going to find a loan. You may want to look for ways you can cut back on your budget rather than looking for additional credit.

KM82

so to consolidate my credit cards into one loan, they wouldnt agree, sorry if i sound silly / stupid, just needing to understand

Beast

The main problem is that banks don't recognise 'consolidation' as such. They would view you as taking on additional credit as there are no guarantees that you'll use the new credit to clear existing debts.

KM82

oh right, god i'm in a mess eh...thinking i should use the 2k from my sister and then apply for egg credit card and move rest of cc debt onto there 0% til next june?

Beast

Looking for a 0% deal is a good idea, but be warned they'll take a very similar view to the banks when making more credit available to you.

KM82

AHHHHHHHHHHHHHHH!
not going to apply til june...
when ive had the 2k
not applying for anything in meantime either x