Declined for a loan

babygirl0207

Thank you for your responses, there is alot to think about. The main thing with our wedding is that it is mainly paid for already including our honeymoon, There is (only) about £2000 left to pay and in the grand scheme of things we would lose a hell of a lot more by cancelling/ postponing. The remaining balance we may have to speak to the OH parents about taking a loan from them.

The reason we wanted a loan was not to pay for the wedding, but to consolidate our debts into one payment rather than 4 (mis-posted earlier when said 3), and also to control the amount of our debt i.e. ensure that the interest does not continue to increase our debt.

I am going to have a look on the DFW board and see what other advice I can find, but thank you for the help :-)

Eonel

It is quite likely that the 10 applications made in a day were all considered in isolation. ie they would not have known you had made 9 other applications that day as your credit record does not update in real-time.

However your credit record will now have been updated - so future lenders will see all these credit applications and it will further count against you.

If you could not get a loan when they could not see the other applications, you are now even more likely to get refused for credit for the next few months.

It is time to re-look at a low cost wedding and your monthly ingoings/outgoings.

Mara69

babygirl0207 wrote: »

Thank you for your responses, there is alot to think about. The main thing with our wedding is that it is mainly paid for already including our honeymoon, There is (only) about £2000 left to pay and in the grand scheme of things we would lose a hell of a lot more by cancelling/ postponing. The remaining balance we may have to speak to the OH parents about taking a loan from them.

So another £2k will take your debt to nigh on £14k - to be serviced on a very small wage. The fact that you are considering taking on yet another debt (loan from parents) and are refusing to consider scaling down your wedding tells me you're not taking your debt seriously yet.

AnnieDaPea

Mara69 wrote: »

So another £2k will take your debt to nigh on £14k - to be serviced on a very small wage. The fact that you are considering taking on yet another debt (loan from parents) and are refusing to consider scaling down your wedding tells me you're still hopelessly in love.

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

MacMickster

OP.

Nobody has yet commented that you appear to have been running up debts by investing in your future, and paying in advance for most of the costs of your wedding, which leaves many couples in debt.

You have just completed teacher training and can look forward to a carrer with an above average salary.

I take it that you will be looking for work to start in September. If so, by continuing to live off your soon to be husband's wage you should be able to clear your debts in a matter of months.

Don't try to obtain further credit or consolidate loans. Just clear your debts as soon as you possibly can when you have a second salary coming in.

I hope that family will be able to help you out with a short-term loan until you are working. Enjoy your wedding and your life ahead. I hope that some of the posters on here have not put too much of a dampener on things for you.

Mara69

AnnieDaPea wrote: »

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

What nonsense! I do hope you are being ironic. I was (still am) hopelessly in love with my husband. Our wedding cost us about £100. Being in love does not equate to spending thousands of pounds you don't actually have.

AnnieDaPea

Mara69 wrote: »

What nonsense! I do hope you are being ironic.

Yes - and also a bit cynical.