Advice required RE Loan Application

46robbie46

Hi Everyone,

I am having all manner of problems with Natwest because of my overdraft which I had to take out in October due to an emergency.

To cut a (very) long story short, I have been messed around by the bank for the last 1 year and 7 months about trying to apply for a loan. I have been declined three times by the bank since September 2009 for various reasons. In October I was given advice by a Natwest financial advisor that if I were to take out a large overdraft and wait a few months I would be able to get a Natwest loan to refinance the debt.

I applied for another loan to do just this at the beginning of last month and I have only just got a final answer... No again. The reason being that because I still have the overdraft and still use it every month, I cannot prove that I can pay back money, even though I have had a credit card since 2009 and have never missed a payment, never paying just the minimum payments either.

I was advised today by Natwest that I should try to get a loan with another company to refinance the debt, so I tried Sainsburys and was again declined.

Would anyone have any advice as to what I can do? All I want to do is get rid of the debt that I have and start paying it off properly, but I am currently paying a lot of money in charges every month.

I am in despair after being lied to and given incorrect info by the bank, and really don't know what to do. Any help would be very much appreciated!

Thank you

Tixy

Hi

People might be able to help if you can supply some more information
How much do you earn?
Are you employed?
How much are your current debts?
How much is your total available credit (used and unused)?

CHR15

I'm puzzled as to why you say you have been messed about.

You have slipped steadily deeper into your overdraft as you have been unable to support your outgoings with your rate of income.
The further you slip into spending borrowed money (Overdraft), the likelyhood that you will obtain a loan diminishes.

There are some questions to answer from Tixy but it looks most likely you need to take control of this by a change of lifestyle, the DFW board is probably the best starting point.