Unsure on next loan

Suuba

Dont know if this is the right bit to post this..

Got a wee problem, i'm after a big loan in 1 years time (no less) however i have 2 loans already being payed off (which will be payed off before i go for the biggy) thing is one of them had to be referred to a debt agency due to myself missing 2 payments!:rolleyes: :rolleyes: Would that effect my application for the big loan later?

Also i havnt had any returned direct debits for over 6 months and will keep it that way until the next loan, however since early 2004 i recorded 22 returned direct debits which like i said have been cleared up :eek:

So basically i'm worried about the debt collection (wasnt court actioned tho') and crap direct debit past making me uneligable for a new loan even though i will be debt free at the time!

Loan that was handed to agency was £3000 (sitting at £1900 but will be payed off by april 07')
Other 'clean' loan was £4500 (sitting at £3300)

Thats the only 2 loans i've ever had! I dont have the stress of paying a mortgage and only pay off 2 loans and a mobile phone contract from my account, no credit cards, I'm 20 btw

ANY HELP????

grumbler

I don't think that returned DDs are recorded on your credit files. This information is visible only by one bank (financial group).
Missed payments and debt collection is a very serious issue. I'd use ':eek:' instead of ':rolleyes:' . Start with reading Martin's articles:
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inmypocketnottheirs

When the debt was passed to a debt collection agency had a default notice been issued? Have you any other default notices? If you have then you will find it nigh on impossible to get any form of credit or borrowing.

As Grumbler says, get a copy of your credit reference files and see what is recorded. If you have bounced direct debits and payments have been late, these late payments may show on your credit profile making it harder to gain credit.