Loan refusal - please read

Neil_Wootton

zppp most helpful - over and out!

Wutang_2

NeverEnough wrote: »

The first reply to the OP post was downright unhelpful, flippant, unnecessary and made huge assumptions....small wonder then, that he reacted to the provocation.

It simply isn't the purpose of any of the MSE forums to try to slag people off, distress or offend or humiliate them in any way, so why do it?

I am with you NeverEnough - the tone of some of these responses has caused much distress. I cried at about 4:20 yesterday and could not believe the moderators didnt crack down earlier. Later I realised there were a lot of - how can I say this - badness being banded about and I could not take the heat. I am truly flabbergasted by so much negativity and judgementalisation that I am no longer going to read this thread again. Where has all the love gone NeverEnough? just answer me that? Where?

RuthnJasper

steve1980 wrote: »

The "killer" part in the deal is the loan/salary ratio and lack of credit history.

As for the £10k car. Don't bother. Waste of money. I found a Renault Megane Scenic 1.6 which I purchased for £2200 last year.

You don't need some boy racer 10k car just to go and smash it up.

I got a Renault Megane eighteen months ago (private sale) for £500 - still drives like a dream, and sailed through its last MOT. Worth doing the groundwork - genuine bargains are out there.

Good luck! x

RuthnJasper

Wutang wrote: »

I am with you NeverEnough - the tone of some of these responses has caused much distress. I cried at about 4:20 yesterday and could not believe the moderators didnt crack down earlier. Later I realised there were a lot of - how can I say this - badness being banded about and I could not take the heat. I am truly flabbergasted by so much negativity and judgementalisation that I am no longer going to read this thread again. Where has all the love gone NeverEnough? just answer me that? Where?

And I'm with YOU, Wutang. I never cease to be amazed by the attitudes of some muppets out there. So many people (myself included, a few years back) come onto this site because they are in a desperate state and seeking help. There seems to be an increasing number of prats who delight in pouring scorn and sarcasm on these individuals. It's not necessary.

Yes - some of those seeking help and advice have been INCREDIBLY stupid and short-sighted. But that doesn't give ANYONE licence to insult them. No-one is perfect.

Please don't shed tears over these idiots - fortunately, there are still plenty of folk out there who want to offer help and support and can keep any negative thoughts they might have to themselves. The fact that you obviously care deeply about this issue puts you in this latter camp. Try and ignore the fools who cannot help themselves and have to get a rise from having a go at others. There's nothing these bods love better than a reaction to their posts. They are best ignored.

Keep smiling!

R x

Edit: That said, sometimes the original posters don't help themselves if they send stinging responses to people trying to help. It's give and take, guys. Peace.

iamana1ias

Neil_Wootton wrote: »

to mr CHR15 - in fairness the tone was set by the first reply to my original post i feel. I set out to get some answersd to questions and any help which may be useful, instead of which apart from a few useful members i have been presented with a great deal of negativity based on rash assumption. My responses may have been overly scithing to a degree for which if any offense has been caused i apologise, however that doesn't change.


!

Excuse me. As the author of the first reply I offered you fact without any assumption or name calling. I suggested a cheaper car because it's a sensible thing to do if you can't buy a more expensive one (with cash or credit).

You wanted to know how to make Tesco change their minds about not lending to you and I advised you, correctly, that there's nothing you can do to make them.

opinions4u

Only just picked up on this thread.

OP, you want a car. You don't have the money to buy it. Your own bank, who know more about your finances than anybody else, won't lend you the money for it. A supermarket with a close to "best buy" rate also won't lend you the money.

You therefore have options:

1) Borrow it from somewhere else (although as your own bank won't touch you, it will almost certainly be at a high rate, and you have expressed a desire to avoid this).

2) Buy a cheaper car. While the first reply you got wasn't what you wanted to hear, in the real post-Credit Crunch world that we live in it is both practical and sensible.

3) Save up the difference between what you want to spend and what you are able to borrow. I know it's an old fashioned concept, but it does tend to work.

Finally, by posting on a public forum, people will try to identify alternative courses of action for you that you may not have considered or may not want to consider. But remember, there will be other people reading who never post. They may share similar circumstances to you and can benefit from those alternatives even if you choose not to.

Finance is often black and white. Cute and cuddly "oh the nasty lender, they really should be giving you what you want" helps absolutely nobody.

jon_boy75

iamana1ias wrote: »

Excuse me. As the author of the first reply I offered you fact without any assumption or name calling. I suggested a cheaper car because it's a sensible thing to do if you can't buy a more expensive one (with cash or credit).

You wanted to know how to make Tesco change their minds about not lending to you and I advised you, correctly, that there's nothing you can do to make them.

this isn't strictly true, loan appeal letters can and do work, if you have additional information to show them that will help your cause

zppp

jon_boy75 wrote: »

this isn't strictly true, loan appeal letters can and do work, if you have additional information to show them that will help your cause

It all depends on the reason for the decline to be honest. i.e. affordability is very unlikely unless one can show additional income not mentioned on the application, whereas if someone has a notice of correction on their credit file there may be a chance.

OP, were you told of the reason for the decline by either Tesco or the CC company?

byrnedolly

Hi,Neil,
I just wanted to send you a quick message of support.I have recently joined this forum in the hope of talking to likeminded people in the same boat as me, but instead I have found that many will just give you abuse, and tell you that you are basically an idiot and not very good at handling your money. I have asked innocent questions on here about overdrafts, and why my bank will only let me have £200, and some of the answers almost had me in tears. I felt like being told off by my own mother.I will never ask for any advice on this forum again.I'm really disappointed.
As for the loan, I have had a refusal for only £1000 from Halifax, and I never got an explanation either.My credit report is very good.I think banks just decided to stop lending and are unwilling to help anyone.Much like the people on this forum.Hope you sort youself out, good luck.

opinions4u

byrnedolly wrote: »

I have found that many will just give you abuse, and tell you that you are basically an idiot and not very good at handling your money. I have asked innocent questions on here about overdrafts, and why my bank will only let me have £200, and some of the answers almost had me in tears.

I didn't call you an idiot. I tried to explain things to you from the lender's point of view.

Here is the response that upset you:

They have already given you a £200 overdraft and despite this you have managed to bounce a cheque and exceed your limit. Why on earth should they risk losing more money to a customer who isn't managing their finances?

Now if that's nearly had you in tears I'm sorry. But it is as simple as that.

You borrowed more than you were allowed to and then expected them to lend you more. It tends not to work like that.

While you may not have liked the answer I gave, it stuck very much to the facts.

I certainly didn't give you abuse.