Loan for a new car?

lsmith85

Hi, I am an underwriter for a motor finance co., and I have to say, in my experience, a default of £16 really ought not to influence any descision on a £3k lend.
That would be highly unfair to refuse you an agreement based solely on that. A default does not necessarily mean no credit for years on end- plus it ought to show on your CRA search if it has been satisfied (paid), and there should not be a problem. Also, I believe you are entitled to but a 'notice of correction' on your credit profile (which must be read by people using your profile ) if you feel that anything on your profile is not a true reflection of the state of your financial affairs.
The bigger problem may be the debt you already have- especially if it is close to limits you have been set. repaying on time is always a plus point. hope this helps.
good luck