HSBC Loan application Reffered

zoominov

what does that mean ?

I know it has been referred for further inspection , do you they have a look at your application and give you a answer ? , can they accept and reject it ?

It's for debt consolidation and for a car

DCFC79

zoominov wrote: »

what does that mean ?

I know it has been referred for further inspection , do you they have a look at your application and give you a answer ? , can they accept and reject it ?

It's for debt consolidation and for a car

Yes they look at the application and say yes or no hence the refered part.

They can reject it if the application doesn't isnt suitable eg your history etc.

zoominov

DCFC79 wrote: »

Yes they look at the application and say yes or no hence the refered part.

They can reject it if the application doesn't isnt suitable eg your history etc.

can i call them up and speak to them to explain myself and swerve the decision towards a yes ?

If i get rejected can a apply for another loan with another bank straight away ?

I really need this loan to clear my debts and start saving

BugsyBrowne

zoominov wrote: »

can i call them up and speak to them to explain myself and swerve the decision towards a yes ?

If i get rejected can a apply for another loan with another bank straight away ?

I really need this loan to clear my debts and start saving

No you can't Unfortuantly swerve the referral process, Also credit searches are immediately put on your credit report so if you do get declined and decide to apply for another loan the lender will see this search.

MoneySaverLog

It means the computer cannot make a decision, some human needs to look at your application. However that human cannot be contacted by yourself they sit behind a screen all day long looking at all your data from previous accounts you may have and data from your credit files. Sometimes they may decide they want more data and ask for say proof of income etc.. Then based on all the available data decide if you are worthy or not of being accepted. :-)

zoominov

Thanks guys I hope they say yes , I applied on friday and got referred when do you think they will contact me by ?

BugsyBrowne

As above It just all depends if the referral team think if you afford it taking in your salary compared to how much debt you have etc, they will go through your file manually for any descrepencies that may appear.

zoominov

oh ok cool cheers mate so it entirely depends on them argg

if they reject me can i say i am willing to make adjustments to the deal or apply for a joint loan with my mom or dad ?

DCFC79

zoominov wrote: »

oh ok cool cheers mate so it entirely depends on them argg

if they reject me can i say i am willing to make adjustments to the deal or apply for a joint loan with my mom or dad ?

A plan b would be to cut your outgoings, pay what you can realisitcally afford to pay off the debts.

Bravehearted_2

Just lol

If you're serious about busing your debt you won't be getting a loan for a car. It cancels out consolidation loan - basically you owe more now.

zoominov

Bravehearted wrote: »

Just lol

If you're serious about busing your debt you won't be getting a loan for a car. It cancels out consolidation loan - basically you owe more now.

yea i know , because of my promotion I will have alot more disposable income so i can pay more off my loan also the rest of the money i can put in zopa and earn interest