deep pooh

rjh090384

oh dear!

me and the man are taking out a loan for the wedding and a new car. yes loans are bad etc but we can pay it off absolutely no problem.

checked my credit score a while ago and was in good rating. so happy enough thoguht we woudl be fine with loan did the moneysupermarket thing they said all was good.

so set about applying and have ben rejected by 3 places. checked my credit score and its now very poor. i cant understand this. never been late with any payments only otehr credit i have is 1 loan (55 a month) and a mortgage (500 a month) and as a joint application we have 2000 income after tax.

can anyone tell me what the hell has happened?

madmalteaser

Credit ratings are such strange things and I'm by no means an expert. My thoughts would be maybe your partner has some bad debt/history? Or possibly even there's some bad credit attached to your address. I know my friend had a problem with that when she applied for a loan after not long moving into her new house only to be turned down on the basis that the previous owner of the house had a poor credit history.

Is there any way you can question the 3 that rejected you and ask them what basis you were rejected on?

rjh090384

he has always paid everything off think had 2 late credit card payments in past. had a lot of credit when i met him but now only has £400 on an egg card.

we got the loan we have now out on our current address although i know my last adress occupier had bad credit.

i am so worrie dnow that we cant get our loan and wont be ablet o get married.

Llyllyll

I was going to suggest that the first thing to do is get an up to date credit report for both you and your OH to check where the problems lie (standard report from both Experian and Equifax is £2) but you've already done this.

From what I can gather the fact that you have applied for, and been rejected, by 3 places in quick succession will in itself count against you. I would echo madmalteaser's advice and suggest that you ask the 3 lender's that you've approached for reasons as to why they have turned you down.

Would you mind saying what is on the report that makes it so poor?

rjh090384

no i dont mind saying what is on the report to make it so poor. to be honest i cant see anything out of the ordinary!!

there are no late payments. no outstanding credit except my mortage and the afore mentioned loan. i have never had bad credit before and not sure whats going on?

Poppy9

Have you thought about extending your mortgage instead of taking out a loan? You could make overpayments to your mortgage with the cash you save to pay off your total mortgage quicker.

rjh090384

our motgage is fixed for 3 years. would we not have to pay a big fee to extend it.

rjh090384

oh great...to top it all off the new mobile phone that i jsut applied for now have to asses me further to see if i can afford to pay a bill....i am so upset. i feel like a criminal!!

Rafter

Go talk to your bank - they should be able to help as they know more about your finances than someone just looking at your public credit record.

Strange that your rating is poor though. Are you on the electoral roll?

R.

rjh090384

i applied for myloan thorugh my bank they rejected me!! so odd! i checked and i am on electoral role althoguh since the cards were only sent out last month so apparently it might not have updated?

AMILLIONDOLLARS

Best get your credit files and have a look.

In the meantime why don't you start saving for the big day. My brother-in-Law wants to get married in New York Next year, I have to find money for flights/hotel accommodation/outfits etc... I am detemined not to put this on the credit cards and paying for it for the next 2/3 years, So Christmas has been cancelled this year! and the big save is on, I estimate that we will need £4,000 to cover the costs for his big event! So why not join me in the save, whatever the monthly repayments would have been why not put this in the pot!!

AMD