Wedding Help

mrst2b

Hi Guys,

Right this is how the situation goes my partner has applied for a 11k loan over 7 years but been rejected, with 1k he was going to consolidate an existing loan the other 10 is to pay for our wedding, please I know this is a lot of money but we would have easily saved this by next year which is what we were hoping to do, unfortunately my mom has been diagnosed with terminal cancer so we want to bring the wedding forward why she is still fit and able.

We have his credit files and there is nothing wrong with them, there were 2 defaults on his bank account back in 2007 when he was made redunant but nothing else, other than 3G spelling his name incorrectly.

Both Tesco and Lloyds (his own bank) have rejected the loan but we cannot understand why, he was accepted for 6.5k HP in oct and has been paying that with no problems, he will have over 700 pound a month disposible income after paying his other bills.

He has had 2 loans in the past which have been completely paid off with no defaults a current account and a bills account and a mobile phone contract.

I know alot of you do not agree to an expensive wedding but it is what we want and what we would have easily saved for by next year but the circumstances with my mom means we dont have time to wait and save.

Any idea who will accept him for at least a 10k loan even is it is a higher APR we want the wedding this year without any regrets by leaving it until next, please please help us, there has to be an :Asomewhere .

MrsT2B

~Brock~

mrst2b wrote: »

We have his credit files and there is nothing wrong with them, yes there is!!

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>there were 2 defaults on his bank account back in 2007 when he was made redunant but nothing else, other than 3G spelling his name incorrectly.

The above sentence contradicts itself, yet probably highlights the main reason why he has been rejected.

Tixy

Very unlikely to get a loan with 2 defaults. You cannot compare it to the HP that he did get as that is a secured debt and so is much lower risk for the lender.

Plus if his own bank have rejected him probably little chance trying elsewhere.

immoral_angeluk

With the greatest of respect do you really need to spend 10k on a wedding? If you want to bring it forward why not have a cheaper on with your mum present, and then a more lavish honeymoon later on once you've saved up or are able to get a loan?

RobertoMoir

I'm sorry to hear about your mother. Lost both my parents to that awful disease and it's not very nice for you or any of your mothers other family and friends right now, I know.:(

From what you say about the situation with previous credit and being turned down by his own bank who are usually fairly open to loans from current customers, it's unlikely you'll get a loan, or certainly if you do it will probably be at an absolutely murderous rate of interest.

I urge you to stay away from the loan companies that pray on people with bad credit histories (read archives of the boards here to see why)... or at the very least to research them very carefully and think hard about how much you will have to pay back and how long it will be for. Will a loan through one of those high rate companies still feel like a good idea in 5 years time when you're still paying it off and can't afford to buy a new home because of it?

I realise this isn't what you want to hear and I hate to be so blunt but you may have to decide whether the big wedding or your mother being able to enjoy the day properly is more important. There's only one answer to that isn't there?

shellsuit

What's more important ~ you 2 getting married and having Mum there, or a big wedding?

I'm sorry she is so poorly, but honestly, look at the bigger picture x

PNPSUKNET

have to agree with the above, not about cost but whos there

fleagle21

In the situation you are in currently, the most important thing is that your mum gets to see you married, be it a £1000 or a £10,000 wedding. I personally think too many people get wrapped up in the material aspect of it all, rather than the true meaning/reason of a wedding - because two people love each other and want to spend the rest of their lives together.
Re: the loan stuff, those defaults will make a difference, not sure of my facts here but I think they impact something like five or six years later. I really would advise against getting sucked into a ridiculously high loan rate - I have debts just now at reasonable rates, and that's bad enough, let alone purposely taking on debts at crazy rates!

So sorry to hear about your mum, and hope you find a way through so she sees you married be it big or small wedding

emmell

For what it's worth, I agree with shellsuit, it's much more important to have your mum at any wedding you plan. It doesn't have to be a lavish affair as long as your mum is there. And if your mum is anything like my mum used to be she would hate the fact that you were getting into debt.
ML.

immoral_angeluk

I didn't mention this in my previous post as I didn't want to really bring it up but I feel it's relevant.

My mum died from lung cancer while I was planning my wedding. I felt that we couldn't afford to bring it forward and kept kidding myself that she'd have more time.

She didn't. She died a year before I got married and not having her there was like going through the heartbreak all over again.

The money isn't important. Your mum would rather see you get married for £100 in a register office than not see it at all...

Sending massive hugs as losing a parent is one of the hardest things we have to go through in our lives, let alone when you have the additional emotional turmoil on top of them being ill and trying to plan a wedding.

mrst2b

Thank you for all your comments and yes the most important part will be for my mom to be there, just trying to find away around not having to cancel everything we had already booked and paid deposits for as this means losing money anyway.

Thank you for the kind words though.