Rejected a loan.. more detail contained within!

KingElvis

Basically you're saying you won't have a job soon, no income as such.

NO reputable lender will accept you without a job / income, this is just silly.

lauraloubell

They don't know I am leaving my job though at this stage..

I won't not have any job, just not my current one. I will be childminding. I know that wont have any weight as it's self employed so I need to sort my finances while I have my current role.

Maybe I should make an appointment with my bank?

I have heard good things about Tesco loans, doesn anyone know about these?

KingElvis

Tesco loans are for prime, superb credit rating bods, they really do take the cream only.

You would be far far better asking your own bank if you've run your account properly, no bouncy direct debits etc etc

If they reject you, it's not happening I'm afraid.

geoffky

I am a 47 years old male with two kids who has not got a credit card...The difference between me and you is i am proud of the fact..you should think it as a positive....

Apples2

lauraloubell wrote: »

My debts aren't interest accruing. None of them accrue interest.

We're just trying to understand the position.

Are you saying Egg have agreed a settlement figure of less than that outstanding, which is fixed and doesn't expire?
This suggests you may as well ignore it forever, the debt won't go up, the settlement figure is fixed and will not adversely affect you. Why bother paying it?

Settlement figures are "normally" valid for 30 days (when the next interest rollup occurs). Along with this is "usually" a negative hit on your credit file, because you didn't settle the debt fully.

Your post comes across as the same as many we see on here (I'm sure you won't see it this way);
I want to get a loan to give up work and go travelling for a year, I will use the loan to make the repayments so I can easily afford it, who will lend to me (Oh! my credit is bad)?

Bravehearted_2

lauraloubell wrote: »

I know that having a loan doesn't "accept" you in to society, but surely loans are there for sensible people who can manage finances but need some support during a difficult time.

Otherwise what are they for?

Facepalm to the Nth degree.

First, loans (especially any that you will get e.g. Providence) are not "there for sensible peolple who can manage finances.." since you clearly can't.

Otherwise what are they for? Loans are to make money for whoever is wise enough to lender carefully. I'll give you £20 and you give me £25.

If you take out a loan and don't get something positive out of it like a profit or a degree or put yourself in a better position than before, then you're a dumbass.

You want to take out 4k and leave your job - how in the hell are you supposed to repay?

lolavix

If you have agreed a settlement figure with Egg I would think it unlikely that you will get a loan anywhere on the high street as it suggests you have struggled to pay them back

lauraloubell

I don't think I've included enough detail to make this clear. The Egg debt is very, very old (an ex boyfriend stole my first credit card when I was 18 and ran up 4k on it, I tried to pay it off but couldn't and ended up getting them to freeze the amount and i would pay back an amount each month (this has increased substatnially over time) I was a very different person then as were we all.

I am now 30 years old and a mother of one. I do not intend to take a year off to go travelling and take out a loan using the very same loan to make the repayments (mega confused face)

I am in an incredibly stressful job and have incredibly streeful personal circumstances and feel that i deserve to take some time out with my daughter for 6 weeks over the summer. It is widely accepted in our culture that mothers who wish to take time out with their children may do so at the expense of society so I fail to see why there is so much frothing on here when I am suggesting that I fund myself to do this FOR SIX MEASLEY WEEKS!

I will then return to work in a different capacity (childminding) in order to fund the repayment of what in essence is a consolidation loan, and for living expenses.

I can't see the problem... is everyone on here against consolidation loans? Do you have a downer on me because I have a good salary and should put up and shut up with my lot because I'm not drowning in debt and facing bankruptcy?

What solution is everyone suggesting, exactly? I suppose that I pay off my debts with the money I am earning, rather than save, I understand that. But then what? Continue in my current role until next year by which time I will probably be having a full scale breakdown?

This has to be the least supportive, most self satisfied forum on the web.

lauraloubell

And I got the provident loan because people on this forum suggested that whilst I had bad debt on my credit report I should get loans or credit cards for people with bad debt and use them to boost my report by borrowing and paying back properly.

Anyway you smug lot, I have always been told that if you don't have something nice to say then you should say nothing at all. It is common courtesy and something I think some people on this forum should listen to.

I am on the verge of a breakdown as I have mentioned and frankly after this thread I feel a whole lot worse.

If anyone does have some genuine, constructive advice that would be most welcome. My problem isn't that i want to clear my debts, I don't want to clear them. At least that is not my priority. What I want to do is minimise my monthly outgoings.

lolavix

Plenty of people here have tried to help you and offer suggestions, you may not agree with people's opinions - but that's what they are - opinions, and everyone is entitled to one.

I have a good salary and am not drowning in debt, doesn't make me a better person than anyone else.

If your boyfriend isn't worried about having the money back, why not leave that to the side for now, enjoy your summer and look to pay him back as and when? £170 a month is a large chunk of money if you're looking to reduce your outgoings, and would mean you wouldn't need to look for a loan.