Loan declined

davemarsden

Hi there, my mum has applied for a loan for me and has been declined. She has never missed a payment since she has been alive she has had numerous loans, she has credit cards she pays off instantly. She has 2 phone bills that she pays off without fail.

Nothing there shows she should be declined she should have excellent rating.

When she did an xperian check it says that the bad credit is on my address due to my brother (REALLY BAD credit rating) as in has defaulted on loans, missed payments all the time etc. Hes really really bad

He has moved out about a year or two ago but this is still affecting my mum for some reason.

Is there any way to fix this as my mums in a bad state now because she baught my brother a 8k car (Because he has no chance of getting a loan - he would then pay her the payments) - As she thought theres no chance she would be declined for a loan. Shes come to get the loan AFTER buying the car on her credit card (YES silly move she should have checked before), and has now been declined.

Is there a way she can get her credit rating on the house or all of my brothers ratings removed.

I also got declined for a mobile contract which im guessing is for the same reason my brother because im the same as my mum ive had a contract before paid it off never missed a payment and i currently have a 7k loan which i pay every month without fail and a credit card which i pay the fee every month but yet i couldnt get a Mobile Contract.

Kind Regards and sorry about the essay
Dave

BoGoF

Addresses are not blacklisted as such so unless your mum is showing as financially linked to your brother there could be other reasons for the decline.

Tixy

The only way brother's credit problems can be affecting mother is if she has a joint financial association with him - if so it will show on her credit file as a financial associate.

If she doesn't then there may be other reasons she is being declined.
What debts does she have?
How much does she earn?

SBCUK

ouch, i feel sorry for your Mother, best of luck getting it sorted.

dealer_wins

I would suggest you apply for your own loan, and your mum sells the car she bought and pay off her card.

barbarawright

Any chance of either of you taking responsibility for your own finances and stopping relying on your mother? Why do you need another loan when you already have a £7000 one?