advice please?

eejut

or any suggestions, or tell me to stop worrying..

I have two debts that i wish to combine, an overdraft on my barclay account, around 2000 (im currently mid-process on reclaiming money) and an existing barclaycard loan with 3000 left.

I also have a mortgage, had it for a year and never missed a payment.

Now, i'm not going to starve if i dont get a fresh loan of around 6000, but it would be nice to combine those two debts and have a little left to sit in my account.

I keep getting turned down. I checked my experian file, and there doesnt appear to be any major problems. I've just applied for my equifax file.

I asked northern rock, who i applied to for an unsecured loan, and they said i was turned down due to not fitting their criteria. They wouldnt tell me what the criteria was.

I also got turned down for a secured loan for a simmilar ammount.

I'm not going to be applying for any more loans for awhile, so that i dont have a mass of searches on my file. But i'm worried as to why i cant get ANY credit.

wardlaw

eejet

The best course of action is to send of a cheque for £2.00 to Experian and obtain your credit file

From the information, contained within, you will be able to esablish where the problem lies

nomoneytoday

Why are you borrowing £6k to pay off £5k ?

Consolidation of this type is not a good idea, unless the amounts and APR comes down.

eejut

Thanks, yes, i've applied for the equifax file, as theres nothing wrong on my experian one.

Actually, there is one error on the experian. Barclays, because they have been no help at all ever since i started with them, have me registerd under two different names and two different addresses. (i changed my surname legally seven years ago, long story short, to my Fathers surname). I've contacted barclays about it many times, and they never do anything about it. But someone at Experian said they didnt think this was the problem with my credit.

The reason for wanting 6 to pay 5 is that i'd like to put a thousand pounds in my savings account. Its not essential, it was just an extra luxury when i didnt think getting a loan would be such a problem.

Experian_company_representative

Unless you get an exceptionally good rate on the savings account and a very low-cost loan, using borrowed funds to invest in this way is unlikely to pay dividends, otherwise we'd all be doing it :-)

eejut

Thanks for the replys

The ammount of the loan wasn't really what i was worried about, certainley not looking to loan the extra ammount with a view to investment, but to have in my savings account as a cushion should any problems come up.

My main worry was why i was getting rejected when i couldnt see anyhting wrong -that is apart from the recent applications that mean i have to leave it a while before applying again.

I think i'm on to it now. Barclays have written back to me about my name change; it seems that whoever did it at the time didnt ACTUALLY change my name, they added a second person to the account.

I now have to try and find all the documents i had seven years ago when i changed my name, to get Barclays to correct this, simply to be who i am. Its frustrating, but at least i think i know why myu credit rating has had so many problems!

Cheers.