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LynV

My son has tried to get a job but has been unable to in the current climate. He has no income from anywhere else. The boiler cannot be repaired. Instead of making judgments on my son and where my paultry 12,000 goes could I have proper advice to sort out my problems.

Tixy

Its hard to advise based on the limited information.

Do you know why your bank refused you? did they give any indication?

Do you know what your credit files show? Do you have any problems on your credit file that you are aware of? any missed payments? defaults etc?

Does your husband have any missed payments or defaults on his file? is the mortgage in joint names (ie are you financially associated on your credit files)?

Do you have an overdraft? do you use it?
Do you have any existing credit accounts aside from the mortgage?
Do you have any existing debts?

Edit - I see you mention a loan - how much do you owe on existing loan? whose name is this in?

LynV

I have no idea what my credit score is. I am paying arrears on the mortgage which is probably why bank won't help. I imagine over the years odd payments have been missed. We paid off all our credit cards when we had some spare cash but have about £6,000 on Mortgage and £10,000 on a loan.

Tixy

Your credit score isn't important - but what is on your credit files is. If you have arrears on your mortgage then this will be shown on your credit file, and any potential lender will not think you can afford to repay a loan if you haven't been able to keep up payments on the mortgage.

When you add in that you have a loan of that size on your income then I doubt you will find any company willing to lend you any more.

You say you paid off your credit cards - do you still have any of them open or did you formally close the accounts? if you did then possibly you could look at using one of those for the boiler problem. Though you perhaps wouldn't be able to pay your sons costs (tuition costs?) by credit card. Perhaps he can talk to whoever he owes money to to see if it can be paid in installments. Or perhaps he can look at getting a loan in his own name to pay his debt? e.g a career development loan.

chalkie99

There you have it.

Wages £12k and an existing loan for 10k.

You are already at (and above) the acceptable level of credit and unlikely to get any more.

Your son needs to look at any type of work, no matter what it is, rather than something he thinks would suit him.

moatmeister

Can you define the "acceptable level of credit" please?

Wutang_2

moatmeister wrote: »

Can you define the "acceptable level of credit" please?

you are very irritating - and OP, missed payments alone will be enough to mean no-one will lend. People on here only comment on your sons financial situation because you are unable to afford it.

Emmzi

join a credit union and show you can out a little aside every week and they may in a few weeks lend for the boiler. It's that or a loan shark.

son will have to sort himself out.

moatmeister

Surely asking for an explaination of an "acceptable level of credit" is a fairly straightforward question which would help many people ?

DCFC79

moatmeister wrote: »

Surely asking for an explaination of an "acceptable level of credit" is a fairly straightforward question which would help many people ?

You have asked that question before though