Fab credit but no loan???

dtsazza

bairnbabe wrote: »

i just feel on here people are asking for something and very rarely getting what they want......only getting very negative responses.

I feel that a large part of that is due to the current loan market - or more specifically, how it doesn't match peoples' expectations from a few years ago. I haven't tried myself, but it does seem to be very hard to get a loan these days. So lots of people are asking "how?" (not "can I?"), but then being told "No".

Personally i don't view getting a loan to go on holiday as a last resort, i see it as a way to get instant money

True, but that's where we disagree philosophically. I thought like that when I was younger, and ended up with around £12k of unsecured debt, which fortunately was merely annoying rather than actually troublesome. It's the concept of "instant money" that's the siren song; I was always spending tomorrow's money today and playing catch-up because I could "afford it", which cost me thousands of pounds in interest and charges, and meant that I was much more stretched than I realised.

If you can afford the repayments on a loan, why haven't you been putting that same amount of money into savings over the last year, which would give you the money you need to go on holiday now? That is a completely serious question that I really think you should inspect, since right now you're having to take a loan to go on holiday as you can't actually afford it yourself (for what I consider a sensible definition of "afford").

But that's all I'm going to say about that now.

Credit file = says i'm in the excellent category with a score of 967 other than that not much, shows a change of address 2 yrs ago.

That sounds good - although I wouldn't bother paying for the score, as it only shows what Experian think of your credit file, and they're not making the decisions! Lenders don't even get this score (I think), they just see the data in your file and come to their own conclusions.

Existing debts = Other than the norm Mortgage, childcare gas elect....i don't have anything (honest)

Are you confusing debts with expenses? Or are you saying that you're actually in arrears on your utility accounts?

I am on the electoral register as far as i know and i don't know how to find out my available credit??? Never heard of or seen this before.

Available credit is just the sum of all the credit facilities you have now - these will all show up on your credit report along with the figure, so you can just add them up from there. This will include the outstanding amount on any loans, as well as the total limits of overdrafts and credit cards (not their current balance).

bairnbabe

Dakoota.....

Everything i had or done or missed was longer than 6yrs ago and no CCJ's or bankruptcy

bairnbabe

Thank you dtsazza!!

I don't owe anything on the usual utilities etc.... just added them as the only expenditures i pay every month from my money, i literally have no other debts, cards, loans etc....

I do agree with the whole, 'if i could pay it off with monthly sums then why haven't i been saving it'.......doesn't always work like that in the real world tho, i should save and i know this but i don't and it's hard getting into the mind frame to do so. I've never been a saver, used to have the belief if you've got it spend it but i'm not that bad anymore however what i have left at the end of each month i do generally go out and spend it on clothes, nights out etc.....

Available credit as far as i can see is nothing, i have nothing in my credit file.......don't know if that's good or bad tho!!

ILW

I know it's not what you want to hear but, spending £2000 on a holiday which lasts for a couple of weeks and paying for it over a period of years is not that bright.

mskemp85

OP - Does your holiday have to cost £2000. That's not me being negative it's just if I had to borrow to go on holiday I would look at possibly getting a last minute cheap deal, and spending a lot less. That way you may not have to borrow at all. A lot of last minute deals on teletext can cost less than £150pp.

Echoing the above thoughts of other posters in regards to borrow to go on holiday, but thats only because I have done it myself in the past, and regretted it when I had to start paying it off . I learnt my lesson from that and now only go on holiday when I have saved up for it in advance.

Again appologies if this sounds like a negative reply, just being honest. Hope you find the advice your after.

RichGold

bairnbabe wrote: »

I've never been a saver

Effectively you'll have to be "saving" the amount of the loan each month from now on. If the bank can see you spend all your available income each month they'll not be likely to help you when you ask for a loan. And if you're own bank wont help then I'd leave the whole idea anyway.

bairnbabe

Better posts now....thanks. To be honest no i don't need 2k just added extra on for new clothes and to basically blow!! I'm considering leaving it the now and saving to go early next year to the Canaries (still hot in Feb/Mar). So i appreciate the last few posts and these are the kinda posts i was expecting/wanted. Some people on here are so negative tho and go about giving their advice in completely the wrong way.

Thanks for the positive constructive 1's tho, appreciated xxxx

RichGold

Going to the canaries that time of year is a good idea. Still hot as you say, its pre-season too so most of the places wont charge you the earth

CLAPTON

bairnbabe wrote: »

Better posts now....thanks. To be honest no i don't need 2k just added extra on for new clothes and to basically blow!! I'm considering leaving it the now and saving to go early next year to the Canaries (still hot in Feb/Mar). So i appreciate the last few posts and these are the kinda posts i was expecting/wanted. Some people on here are so negative tho and go about giving their advice in completely the wrong way.

Thanks for the positive constructive 1's tho, appreciated xxxx

one assumes the irony is unintended


however you say you are a property owner

I don't know your home details but lets just say the boiler packs up and need a replacement... say 2-3k ish

you will have several choices

- borrow the money to replace the boiler ... difficult as you seem to be turned down for loans
- use savings... difficult as you don't seem to have any saving
-just go without heating until you save up ... certainly do-able but maybe somewhat inconvenient


maybe you see this as a negative post but many will recognise the situation


so each month, pay the bills then put 10% into a saving a/c and only then spend the rest

iolanthe07

Everyone has debt

No, they don't. There are some of us, perhaps in our sixties or seventies, who have absolutely no debt at all.