refused graduate loan?

baggies123

Hi i have been refused a graduate loan via natwest as i have a bad credit rating,

when i was at uni i had two overdrafts (HSBC,Natwest both student) as i left hsbc od dormant for too long it got put into collections and it took me a few months to pay off. It is all paid off now apart from my natwest od but i still have a while on that one interest free.

I have no other debts and i live at home with parents, i have a consistant wage but i need graduate loan to buy a car so i can commute.

If i appeal the loan refusal do i have a chance of geting it overturned?

Thanks guys.

DCFC79

What is your income like compared to your debts ?

jonesMUFCforever

IMO no - now you learn there is a price to pay for not paying back what you borrowed within timescales.
This will be on your credit rating for the next 6 years (although paying it off will improve your rating in time).
You are perceived as high risk hence the decline.

Sorry to say there is no magic wand for you.

baggies123

Hmm terrible news, i was a meer boy with a student overdraft. If given the chance i would pay this loan off real quick cz its a graduate loan there is no maximum monthly payment therfore i would pay it off in large sums.

Thanks for the replies though.

ILW

You can buy a useable commuter car for £500.

omofolawe

hello,how can i chart effectively?

omofolawe

how can i get the student loan?

dresdendave

baggies123 wrote: »

Hmm terrible news, i was a meer boy with a student overdraft. If given the chance i would pay this loan off real quick cz its a graduate loan there is no maximum monthly payment therfore i would pay it off in large sums.

Thanks for the replies though.

If you would be able to pay the loan quickly, presumably you currently have plenty of spare cash left over each month. Why not save up and buy a car outright rather than get into debt?