Declined for a loan

jason1231972

Jesus, I applied for two credit cards yesterday (accepted, screw you Barclaycard!!) and got a bit twitchy about the number of searches I've subjected myself to recently (about 4 in 3 months). Stop searching! 10 in a day is unreal, and will kill any chances of a loan, which you're unlikely to get anyway.

BugsyBrowne

jason1231972 wrote: »

Jesus, I applied for two credit cards yesterday (accepted, screw you Barclaycard!!) and got a bit twitchy about the number of searches I've subjected myself to recently (about 4 in 3 months). Stop searching! 10 in a day is unreal, and will kill any chances of a loan, which you're unlikely to get anyway.

What cards did you get accepted for?

jason1231972

BugsyBrowne wrote: »

What cards did you get accepted for?

Tesco 0% purchases for 16 months and M&S 0% purchases for 15 months, £2,500 limits on each. Rubbishy Barclaycard recently KB'd me for an Initial card. Pah.

chevalier

Hi there
Here is the link to do a Statement of Affairs

http://www.makesenseofcards.com/soacalc.html

Even if you only fill this in for yourself, then you will have a better understanding of your financial position. There maybe something glaringly obvious that you can trim.

I agree with other posters, stop panicking and stop the loan applications. That many in a day is like a red rag to a bull.

You can get a free months with experien via the quidco website I believe. This will show for them at least what your credit score is.

Also not being on the electoral roll will also impact your credit worthiness.

To clarify. Now that you have qualified as a teacher, have you now got a job. Ie will your finances dramatically improve? If there is no teaching in the pipeline just yet, can you get ANY job, just to help balance the books?

Ref the wedding, can you go cap in hand to both sets of parents and explain that you have stuffed up and need help to pay for the venue or whatever? It is common to put off the honeymoon for a bit after the wedding these days, so you could delay that expense.

good luck.
And if as another poster mentioned you want to post your SOA on the debt free board then you will be welcomed
chev

Mara69

babygirl0207 wrote: »

Does anybody have any advice?

1) Stop applying for loans; you're not going to get one.

2) Go to the Debt Free Wanabee board, they will help you organise your debt.

3) Postpone the wedding or get married very, very cheaply. You can't afford a big shindig.

Fiddlestick

chesky369 wrote: »

Get married in a Registry Office with a dozen of your very nearest and dearest and go out for lunch afterwards.

This is what me and MrsStick did a few weeks ago, followed by the pub in the evening with our wider circle of friends.

It was lovely - couldn't have been nicer. I don't imagine I would have enjoyed it if we had got into thousands of pounds of debt just for one day.

You can't afford a honeymoon.

It depends what you want to do really.

We went to Italy for 5 days and had a lovely time on a budget - there was so much to do and it's possible to eat really cheaply if you know where to look.

Again, you don't need to spend thousands of pounds at a 5 star resort on some island somewhere to have a special time

jc808

You can barely afford to live - and you want to add more debt to get married

cant understand that at all

dealer_wins

As others have said you cant live within your means at the moment, running up £12K on a credit card. You now want to borrow more to get married.

Best course of action is to concentrate on getting the card paid off, and have the wedding you can afford.

If it means pie and mash all round and a honeymoon in Bognor then so be it.

It will benefit you in the long run!!

amyloofoo

Starting a marriage with a lot of debt is only going to lead to stress and arguments, could you possibly arrange to have a small ceremony now, then agree to renew your vows in all the extravagence you want once your finances are in order? Is your OH fully aware of the financial situation? Do you have any family who can help out? My OH and I agreed we would spend the bare minimum on our wedding, then pool our finances to paying off our debts and saving for a house deposit. It's pretty frustrating in the short term, but means our marriage is based on talking things through and making good decisions for our future together.

AnnieDaPea

amyloofoo wrote: »

Starting a marriage with a lot of debt is only going to lead to divorce unless you have a website to sell

I've fixed your post for you! :rotfl: