refused a 7k loan!!!

mariadurham

eschaton wrote: »

Jealousy hee haw to do with it.

Simple fact is despite high income they still can't afford the wedding WITHOUT borrowing.

Bet everything else like cars is on credit as well. You should only get a car if you can afford to pay for it.

andys15 wrote: »

We take home £5400 a month salary,no bonuses, but my outgoigs are £4700 every month, includes holidays, emergency funds, but not food,petrol etc. I have just been given a £18100 credit card and could get a loan tomorrow. I think the banks are only considering your £30000 wage. What industry are you in?

Hi andy...i dont think she even put my basic down...im in petrochemical sales

LoopyPrune

Everything you say makes me think you have answered your own question. You earn X amount per month yet still dip into your overdraft regularly, you earn X amount per year yet still demonstrate little control over your finances. 2 thirds of your salary are commission based and therefore arent worth the paper they are printed on. So your wage seems to be a few thousand above national average and they are knocking you back because they consider your current debt to be at its maximum.

You say the lady didn't even put your basic down makes me think your talking rubbish. Banks have to be so careful these days with credit applications and they makes sure the I are dotted and the T are crossed. She would have asked you your basic then your overtime/bonus and they would be seperated on the application. If you dont seperate the both then you are making a fraudulent application.

Rather then get a loan you need to look in the debt free wannabee section.

mariadurham

thanks for all your help folks...think will leave it at that and get some help from the old folks xxx

Emmzi

maria, enjoy your wedding.

when I was a bank lender, we avoided high earner/ high spenders (back in the day when we made decisions, not the computer) as when the hard times came they were set in their ways and less likely to be able to cut back, cope, and cover the repayments - not opinion, an analysis of defaulter profiles backed this up.

So, I am not surprised you do not fit a good risk profile for loans.

By the way, many people DO buy cars, nice shiney new cars, outright, for cash, so it's not a ridiculous idea!

I am sure you will have an amazing wedding regardless and wish you well.

RobertoMoir

Jon_B wrote: »

So many jealous people on this site.

£27,000 on a wedding when you are on 97k a year is cheap. I'm on 18k and spending 13k on a wedding. Without credit. Go Figure, people do whatever they want and if they can afford it then i'm all for it.

I can agree with the sentiment that people can do what they want with their own money, but if a £27k wedding is so cheap to someone on £97k then why are we talking about needing a loan?

mariadurham

Emmzi wrote: »

maria, enjoy your wedding.

when I was a bank lender, we avoided high earner/ high spenders (back in the day when we made decisions, not the computer) as when the hard times came they were set in their ways and less likely to be able to cut back, cope, and cover the repayments - not opinion, an analysis of defaulter profiles backed this up.

So, I am not surprised you do not fit a good risk profile for loans.

By the way, many people DO buy cars, nice shiney new cars, outright, for cash, so it's not a ridiculous idea!

I am sure you will have an amazing wedding regardless and wish you well.

Many thanks and we will im sure )

housebuyer_abc

rainbowfairydust wrote: »

im :eek: at how anyone could spend 5 grand a month !

I'm sure given the chance I could find a way to do it :beer:

I'm guessing given the opportunity you'd give it a go too :T

eschaton

mariadurham wrote: »

how many people get cars and pay off all in one go....!!!!!

All the people that only buy what they can afford.


You won't be into doing that...........