Lloyds Lend a hand and credit ratings

Delboy85

BoGoF wrote: »

What's your take home pay on average?

Between £2.5k and £4.5k. Generally just over £3k. Been writing back and forth where this money goes (to justify) and I cant. I have all our fixed outgoings written down and there still is a significant hole which we must just spend on unnecessary things. Sure we have moved flat, bought furniture (as was unfurnished), had a car die, etc but still... I know I earn decent and don't want to write on here this and that when I know many people are much worse off. Most of my debt is legacy debt (as are my defaults) back at a time where i didn't have responsibilities. I guess I need to bite the bullet and rectify by addressing the debt instead of papering over the cracks.

@opinions4u - great point didn't think 42 months down the line from the banks point of view. An accountant as a very good family friend is one and I know he is uber smart with money.

Will update this thread with the progress i make. Thinking of rolling into Lloyds armed with my credit report, payslips, total outgoings etc and getting their take. If they say no-way by the time I have rectified anyhow it wont count against me...?

BoGoF

Most people in your position say we don't live an extravagant lifestyle but only when you sit down and analyse your spending do you actually realise how much money you are actually wasting.....so at least you have established the fact there is a lot of spending you cannot account for.

I'm not so sure 'rolling into Lloyds' is such a great idea at the moment. As was said earlier you will be taken a lot more seriously if you can demonstrate you have changed your ways and cleared that debt.

Yomo

If there's one thing I've learnt over the past 6 months, is that at the moment, lenders just don't want to lend their money. They seem to look for any reason not to lend.

Neither my girlfriend nor I have anything negative on our credit reports, yet we've been turned down 3-4 times for a mortgage.

We're in a good sitation too... we have a combined salary income of around £80k + bonuses/share schemes and neither of us have any loans or credit cards to pay. We also have a 25%+ deposit (£1600 a goes to dep. each month).

One thing I did at the very beginning was make a spreadsheet on Google Docs that we can both edit at any time with all our montly outgoings and commitments. I soon learnt that we were wasting nigh-on £1200 a month on nothing - going out, food, stuff we didn't need. We just write down every time we take money out or spend outside of our given budget. We also opened a joint bank account that we each put £300 in a month for food and petrol.

Moral of my story is; take hold of your money. Just earning a nice wage is not enough to guarantee a lender will give you their money. You need evidence that you're responsible with it too.