Loan cancellation help PLEAASSSEEEE

modette69

does anyone know if your credit rating is affected if you cancel a loan within the 14 day cooling off period?
or, if it affects you applying again in a couple of weeks time?

any help/advice would be much appreciated!
:think:

InsideInsurance

Ultimately, in time, you will have the search footprint, the loan being set up and the loan being settled showing given time. The footprint will appear first and the others a little after. When I opened and closed a HSBC current account and credit card in the space of 3 days the footprint appeared in a couple of days and the account took 2 months to show and instantly showed as settled.

As to it impacting your chances of getting other credit. Certainly the application footprint will be considered, if it is the only one then may not be an issue, if it is more than one it more likely will.

cos_2

I wouldn't apply to the same company again in a couple of weeks, though.

modette69

Just wanted to say thanks for the replies
I went ahead and cancelled it by phone on the last day of the 14day cancellation period
They said it can take up to 24 Hrs for it to be be taken back out of my account, so i just checked and it hadn't been taken!
had to ring back and ask why and they said it looks like my request wasn't processed properly so hadn't been actioned!
He said he has now done it and I shouldn't get charged the cancellation fee (as it is now over the 14day cancellation period) as it was an error on there side and gave me his name etc as a reference
so I have now got to wait till Monday or Tuesday next week to see what happens :mad:

tell_it_how_it_is

You're always taking a risk leaving these things until the last minute, but hopefully all works out okay for you in the end.