Why is my mum refused credit?

zudecke

Hi guys,

I recently investigated why my mum was being refused credit a few years agio and found that while Call Credit are missing pretty much all of her information, Experian (who I'm told I should be more concerned about) had her details in fragments as a result of address format variations.

I have since asked Experian to merge all account fragments into one, which they have now done. The only thing not reflected yet is the fact that she has been living at her current address and registered on the Electoral Roll since Feb 1997, not 2007 as they've got her down as. I have confirmed this with the council and sent it off to Experian and await their changes.

With that in mind, do you think my mum would be eligible to successfully apply for laser eye surgery 0% interest finance to the amount of about £3,500?

-She is employed full-time, aged 59, earns £36k salary.
-Has 1 active CC which has a pristine history in terms of borrowing and repayments.
-No defaults, CCJs or bankruptcies
-No name changes or anything like that
-Lived at same address and been on Electoral Roll since Feb 1997 (yet to be reflected by Experian, but this change is pending following a mail to them with reference to my council)
-No recent credit searches
-3 utility accounts, all of which are and always have been paid off by direct debit in full on time every month

-She is not a homeowner


I can upload the Experian statutory report blurring the key details if it might help?

Thanks,

Z

[Deleted User]

Depends on how picky the lender is. But the electoral roll mismatch will be a big concern for most lenders.

You might want to check Equifax as well.

Tixy

Generally these 0% medical cost loans are very 'choosy' about who they will accept.

Might be worth seeing if you can see which credit ref agency the lender uses (occasionally its on the website / t&cs/ faqs etc).

Certainly her experian info looks pretty good, and even if it only has her down as 4years on the e/r at this address that would still appear fairly 'stable'.

I wonder (but don't know) if her age might go against her.

BugsyBrowne

Tixy wrote: »

Generally these 0% medical cost loans are very 'choosy' about who they will accept.

Might be worth seeing if you can see which credit ref agency the lender uses (occasionally its on the website / t&cs/ faqs etc).

Certainly her experian info looks pretty good, and even if it only has her down as 4years on the e/r at this address that would still appear fairly 'stable'.

I wonder (but don't know) if her age might go against her.

I really doubt it would Be age Tixy the woman is 59 years old on 36k a year.

Tixy

BugsyBrowne wrote: »

I really doubt it would Be age Tixy the woman is 59 years old on 36k a year.

But depending on how long the loan is over - it could take her past when she is planning to retire. Lenders will often factor that in and consider whether the person is likely to be able to afford the repayments for the whole duration of the loan, not just at the start of the loan.

Given the amount in this case I suspect its perhaps not over a very long term, which is why I said I don't know if it would in this case.

InsideInsurance

Tixy wrote: »

Generally these 0% medical cost loans are very 'choosy' about who they will accept.

Are they?

Cannot say for medicals but for all other 0% purchase finance they tend to be very lax as the "cost" is just built into the price.

Whilst you could argue there is a difference over reclaiming assets between buying furniture -v- buying a service (fairly sure fake tits arent recoverable) but as the finance isnt linked to the asset itself, just its sale, it would be no easier for DFS to recover their losses than the Harley Street Group.

Not disputing as I've never been involved in it professionally but there isnt much logic to it and certainly never heard of anyone having problems with finance for laser eye surgery from the dozen or so that have done it

[Deleted User]

I'm more surprised that they do laser eye surgery on a 59 year old. When I had mine done, I seem to recall there being a fairly young cut off age for it.

But it could just be that the laser frazzled a bit of my brain as well and I'm talking gibberish.

zudecke

Hi zx81,

I understand how big a concern incorrect Electoral Roll information might be.

When you say "mismatch", what do you mean exactly? I.e. if it's reported as one date by one company and another by a different company?

Equifax correctly reports my Electoral Roll information as 16 years. Experian is pending.

Everything else between the two companies is accurately reported. Although, my mums mobile phone operator (3) is listed on Equifax, but not on Experian and neither show things like house phone (BT), broadband, water and other utility bills.. Should I be concerned about that?

Thanks,

Z

PS. It's not laser she's after, but IOL (Intra Ocular Lenses) .

YorkshireBoy

Deleted_User wrote: »

I'm more surprised that they do laser eye surgery on a 59 year old.

An old(!) boss of mine had it done at 58 (or maybe 59). It didn't work...but then again it didn't cost anywhere near £3,500 (although I don't believe the two are related!).

zudecke

Tixy wrote: »

Generally these 0% medical cost loans are very 'choosy' about who they will accept.

Might be worth seeing if you can see which credit ref agency the lender uses (occasionally its on the website / t&cs/ faqs etc).

Certainly her experian info looks pretty good, and even if it only has her down as 4years on the e/r at this address that would still appear fairly 'stable'.

I wonder (but don't know) if her age might go against her.

Hi Tixy,

The credit provider for Accuvision is "Hitachi Capital". Do you kn0ow which credit ref(s) the use by any chance?

Thanks again,

Z

[Deleted User]

YorkshireBoy wrote: »

An old(!) boss of mine had it done at 58 (or maybe 59). It didn't work...but then again it didn't cost anywhere near £3,500 (although I don't believe the two are related!).

:rotfl:It wasn't a real laser was it? It was just one of those presentation pointy stick things with a red light on the end. "£1,000 please, sir. No,the door's that way, sir....."