hekp - wedding loan!

gini6917

first time poster - hoping to get some advice

im looking for a £5k loan for my wedding...i have been turned down by my bank and many many others...

i earn £30k and can afford the repayments

i have an alright credit score (moderate to low risk) i have no ccj's or anything - couple of late payments for not sending cheques on time frm wen i was at uni! (oops)

i have a lot of house moves as i used to work freelance and ive only been on the electoral role just this year.

i have fallen for the old loan broker tactic and paid for the service but been offered no loan - unless i could get a guarantor - but cant!

im not a home owner...

i keep being tunred down my everyone! and i dont kno why!

ive been advised by a broker to take out a 'fix my credit score service' for £14.99 a month - but my credit cant be fixed overnight....the issues are that ive moved a lot (im staying put now as i have a perm job and have been in house 9 months)

does anyone have any ideas of what i can do - who i can apply to that will undestand my situ...i dont have massive debts (small credit card balance i hav paid religiously to improve score and a car loan for £3k i have also paid religiously)

im worrying to afford wedding cost on time and would rather get loan, pay it upfront and pay back the loan over a longer period...but cant get a lender!!! WHY???

ANY SUGGESTIONS??? THANKS XX

pimento

gini6917 wrote: »

ANY SUGGESTIONS??? THANKS XX

Is £5k the total cost of the wedding?

Simon11

Wait and Save?

If she loves you that much, then there shouldn't be any issues working together to save £5k.

Don't start out your new life in debt!

CLAPTON

what do your credit files actually say
do they show you as being on the electrol roll
how long ago were the missed payments?
how long have you been earning 30k?

30k a year corresponds to about 1850 pm
why ever do you have any credit card balance .. why don't you pay in full each month?
why do you have a 3k loan on that salary?
do you use an overdraft?



how much spare money do you actually have to save each month?

AHAR

gini6917 wrote: »

ive been advised by a broker to take out a 'fix my credit score service' for £14.99 a month

Which set off huge enormous alarm bells, right?

Jeff_Bridges_hair

AHAR wrote: »

Which set off huge enormous alarm bells, right?

What s/he says.

for gods sake save your money for a wedding.. never borrow for it. and never take a loan that people ask for a fee upfront..

just save and then have fun

KingElvis

The fact that you've been turned down by reputable lenders should be a warning to you, you're not a viable risk. The fact that you want to borrow 5k for a wedding rather than saving kind of backs this up along with the past issues you mention.

If your bank can't help you, you're basically not going to get it.

Hanging round secured loans, brokers and other scum of the earth will cost you money, get you nowhere, and potentially trash what's left of your credit rating.

Fiddlestick

gini6917 wrote: »

f
im looking for a £5k loan for my wedding...i have been turned down by my bank and many many others...

i earn £30k and can afford the repayments

Cut back your lifestyle and save the money up.

It should only take you 6 months easy.

ERICS_MUM

I have always worked on the basis of matching the borrowing with the item being bought:

long term assets e.g. home = long term borrowing e.g. mortgage; uni education - student loan

medium term assets/purchase e.g. car, new kitchen/bathroom = medium term loan (say over 4 years)

short term "need" e.g. motor repair, bill due before pay day - overdraft or credit card to be paid back in full on payday

short term/instant "want" - cash or save up or do without

AMILLIONDOLLARS

If you can't save or borrow the money, then you can't afford to get married. Follow the advice above, it will save you a lot of heartache for the future. Think about this, what if your future wife got pregnant and had to give up work. Could you fund this loan alone? Life always gets in the way of good intentions.

Failing that Gretna Green is quite romantic this time of year!

AMD

gini6917

come on peeps - how many blokes have u heard of called Gini....im the bride not the groom!

so much to respond to...

ive been earning £30 for about 8 months - before that it was £38k...my partner has a much lesser paid job and the cost of living is very high in york - we pay £700 a month for a poky 2 bed flat and out council tax is £140...its probably living here that keeps us poor.

someone asked why i have car loan - i paid a very large amount of my car in cash and got the loan to help imrove my credit....

someone else asked 'why do i have a credit card balance?' because i used to pay it off but i read on this site that i should just pay the minimum if i ever want the limit increasing.

* no £5k isnt the entire cost of the wedding - ive spent a couple of grand already in dribs and drabs.

* yes it did set alarm bells ringing when they wanted me to pay for the improve my credit score - i didnt do it!

* yes my credit report says im on the electoral role.

* my late payments are withing the last 2 yaers

i think ive answered everything there....if it was as easy to save as people are saying i wouldnt be wanting a loan....we have very little left after bills are paid. my fella cant get a better job as he isnt really skilled, and cant afford to retrain...cor blimey i feel like im having to justify my spending to the savings police! hahaha

honestly - its not as easy as people say it is to save or else we and many others would just do it - life is increasingly expensive...and i kno its not ideal to start life together in debt, but the alternative would be months of worry that i would save enough to afford it.

anyway - it doesnt look like anyone is likely to suggest a loan provider, but thats for your comments anyway (even if i feel a little bit told off as a result) cheers